Anoj Singh. Picture: TREVOR SAMSON
Anoj Singh. Picture: TREVOR SAMSON

Accounting watchdog, the SA Institute of Chartered Accountants (Saica), has found former Eskom CFO Anoj Singh guilty of misconduct and has withdrawn his membership.

This means Singh is no longer a chartered accountant as only members of Saica are entitled to use the designation.

Singh is alleged to have played a pivotal role in the looting of Eskom by the Gupta family and their associates.

In 2018, Saica announced that it had laid charges of misconduct against Singh. The charges allege that Singh failed to comply with relevant laws and regulations, and failed to avoid conduct he knew or should have known might discredit the accountancy profession.

It alleged that Singh failed to disclose to the Eskom board the true reason for the request by Gupta-owned Tegeta Exploration and Resources for about R600m from Eskom.

Saica said on Friday that the disciplinary committee found Singh guilty of 12 of the 18 charges proffered against him.

The committee imposed sanctions against Singh, which include that he be excluded from membership of Saica; that his name and findings of the disciplinary committee be published; and that he pay a 50% contribution towards the costs incurred by the institute in respect of his disciplinary case.

“Saica takes all instances of members’ alleged contravention of the Saica code of professional conduct seriously, and all these matters are investigated, irrespective of the nature of the assignment or the individual member concerned,” CEO Freeman Nomvalo said.

Earlier this month, Eskom and the Special Investigating Unit issued a summons to recover R3.8bn of “diverted funds” from its former executives, non-executive directors and the Gupta family.

Singh was among the executives named, together with former CEO Brian Molefe, former acting CEO Matshela Koko, and legal head Suzanne Daniels.

Directors summonsed are former chair Ben Ngubane, Chwayita Mabude and Mark Pamensky. Former minister of mineral resources and serving MP Mosebenzi Zwane is also named in the summons.

Last year, Singh was implicated in testimony given at the state-capture commission of inquiry for alleged corruption while at Transnet.

Transnet chair Popo Molefe attributed the corruption at the state-owned entity to three people: former CEOs Molefe and Siyabonga Gama; and Singh, who is the former CFO. He described them as the “three key protagonists or architects of state capture at Transnet”.

Singh has also been linked to the dodgy procurement processes followed when General Electric, Bombardier, China North Rail and China South Rail were awarded contracts for the acquisition of locomotives worth R54bn.

He is also one of the former executives Transnet is suing in a bid to recover the money.

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