South Africa: Zuma Must Repay Diamond Dealer's Millions, Insolvency Inquiry Says - South African News Briefs - August 10, 2023

Former President Zuma Must Repay Millions in Money Used for Legal Fees

An insolvency inquiry has found that former South African President Jacob Zuma must reimburse millions of rands given to his legal team by Gauteng diamond dealer Louis Liebenberg, who directed funds from his company Tariomix to support Zuma's unsuccessful private prosecution attempts, reports News24. The inquiry, overseen by Commissioner Eberhard Bertelsmann, suggests that Zuma should repay the money, implying that it was potentially sourced from a Ponzi-like scheme, and the funds received were seen as 'stolen money'. Tariomix, which faced provisional liquidation due to unpaid clients, has been scrutinized for its financial operations. Zuma's involvement was described as an appeal for funds without the means to question donors, and he is not directly engaged in the ongoing insolvency proceedings. The Mahikeng High Court is set to determine Tariomix's final liquidation status in September.

This article first appeared on All Africa

Photo: All Africa