Sábado, 22 Julio, 2017

DA to take legal action against SAP, Gupta-linked CAD House

SAP headquarters in Walldorf Germany SAP headquarters in Walldorf Germany
Danilo Martir | 17 Julio, 2017, 23:49

The Democratic Alliance said on Monday that it plans to lay charges of money laundering and corruption against SAP South Africa and the Gupta-owned CAD House following allegations that the German software giant paid R100m in kickbacks to secure business at state-owned Transnet and other state entities.

Last week, SAP's executive board placed its South African management team on "administrative leave" pending an investigation by a Chicago-based global law firm, Baker McKenzie, into allegations of corruption directed at the company.

The terms suggest a thinly disguised kickback arrangement: If the Gupta company was the "effective cause" of SAP landing a Transnet contract worth R100-million or more, it would get 10%.

Acacia Communications, Inc. (NASDAQ:ACIA) Coverage Initiated at DA Davidson
Also, VP Mehrdad Givehchi sold 25,830 shares of the business's stock in a transaction that occurred on Monday, May 1st. Deane Retirement Strategies Inc. raised its position in shares of Acacia Communications by 6.9% in the second quarter.

"This consultancy is rather irregular considering that SAP is an global software giant which had existing contracts with Transnet". Furthermore, CAD House is a small company which specialises in selling 3-D printers and which allegedly had no previous relationships with SAP or expertise in this field.

"The DA will, therefore, proceed to lay charges of corruption and money laundering against (SAP South Africa and CAD House)".

Other suspended executive are Deena Pillay, who serves as the chief financial officer of SAP Africa, Lawrence Kandaswami, who is the managing director of SAP South Africa and Mehmood Khan, who is the chief operating officer of SAP Africa.

Big Brother 19's Cody Explains His Blank Stares
Sadly no one seems to be catching on to the plan, especially not the person who can change things, Head of Household Alex. Dominique and Alex could have become a very strong final two and it would have been a flawless alliance for them both.

Natasha Mazzone, the DA's shadow minister of Public Enterprises, says it is not enough that the company had suspend its senior executives as it believes the alleged bribes were known in the top echelons of SAP.

The party also criticised Finance Minister Malusi Gigaba.

Meanwhile SAP has appointed an acting managing director and acting chief financial officer at its South African subsidiary following its suspension of the local management team.

Anantnag encounter: Three militants killed in gunbattle with security forces
A counter-operation is now underway in the area. "Terrorists opened fire on the last vehicle of the army convoy near Bijbehara ". Spokesperson Colonel Rajesh Kalia told Greater Kashmir that the operation was "still in progress".

Kuehnemann has held various executive roles at SAP, including Senior Vice President of Professional Services overseeing SAP's consulting business in EMEA based in Paris, Managing Director Africa based in Johannesburg as well as Managing Director for the South-East Europe & Middle East region based out of Dubai.

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