“Individual shareholders do not have claims against the auditors, because financial statements are not prepared for the benefit of shareholders’ individual investment decisions. The purpose of audit reports is neither to protect the interests of investors nor individual shareholders, but to report on the stewardship of the directors to the shareholders as a body”.
The company enlisted the services of a “reputable auditing firm”, Nexia SAB& T approved by the JSE during October 2014. The value of the company and all investments were conducted and valued on a monthly basis. This appears to be an indication that evidence presented was a disguise or a blatant oversight on behalf of the auditing company including and without limitations to the “Risk Assessments” of these investments.
Tertius De Kock a chartered accountant who, is alleged to have been integral to the commission of the alleged offences through a company which he should have exercised a professional non biased nor prejudicial conduct, namely Nexia SAB&T, should be held responsible and accountable for his actions.
Investors acknowledge that “creative bookkeeping” is an apt description of what he and his counterpart George Manyere were engaged in.
Tertius de Kock joined as the Executive Financial Director, Sens Document 08/04/2020 Shareholders are advised that the Board had agreed to the payment of a take-on incentive to Mr. TJ de Kock amounting to R536,580 as a part of the company’s offer to him to accept the role of Executive Financial Director, to be settled through the issue of 6,000,0000 shares at a price of R0.08943 per share, subject to his employment becoming effective on 31 March 2020. Investors verily believe that these shares were issued to manipulate the “Voting” process. It appears that in relation to his part Tertius de Kock was being generously remunerated by way of what can only be described as a “profit sharing arrangement”
Tertius De Kock had an expressed duty in producing the Financial Statements, dividend declarations to the JSE though the “Debt Sponsor” together with the issuance of various investment instruments to be listed on the JSE. In this regard he was part of a collaborative effort in producing for public knowledge false information. Tertius de Kock was and is also responsible for providing verifications sought by the Investors in relation to their investments, however he has diabolically danced around the issue, declining to give clear explanations’ after, he had taken it upon himself to represent the company, engaging with investors’.
The Auditor Mr Tertius de Kock unchallenged statements in the 2019 Balance Sheet was that at the time of the Mybucks share acquisitions, the Purchase of the Mine and further acquisitions, the company did not have sufficient cash resources to pay the full purchase price. In order to acquire entities and companies, debt and other acquisitions directly affiliated to and to the benefit of George Manyere, a restructuring and debt to equity conversion would necessitate certain acquisitions.
Under South African criminal law, intention is required for all common-law crimes, while statutory crimes involve either intent or negligence. Dolus eventualis is an old and central concept in South African criminal law which has undergone various modifications over the years, assessing the significance of evidence in determining criminal intent, and to uncover how knowledge of unlawfulness, as a key ingredient of dolus eventualis.
In such consequence crimes, the investors herein do not need to prove beyond reasonable doubt that each accused member of the joint enterprise casually contributed to the final unlawful outcome; the investors will merely establish common criminal design.
“Utterance of Forged Documents” Forgery (also known as "uttering a false instrument") involves the making, altering, use, or possession of a false writing in order to commit a fraud. Deleting, adding, or changing significant portions of documents may also be "material" alterations if these changes affect the legal rights or obligations represented in the documents. Additionally, as discussed above, using or possessing false writings also constitutes forgery, known as "uttering a forged instrument."
Case lodged with the South African Police Services dated August 2021 155/08/2021, Against both Tertius De Kock and George Manyere.
the “Shenanigans’ of the company, and try to explain where the R2.3 Billion disappeared to, how were the funds invested and by whom to whom!
Balance Sheet June 2019 Page 9/10 -Assessing stage 1 – 3 categories and probability of default: Tested the assumption applied by management as to whether the preference shares liability disclosed in the Statement of Financial Position should be considered as equity for the going concern assessment;
Balance Sheet June 2019 Page 61 -the Group has various investors including, ordinary shareholders, preference shareholders, listed bonds and debt funders; most of these investors are not related parties to the Group, and they do not have a significant influence over the Group and its strategic direction.
RECORD KEEPING – AUDITING OF THE COMPANY
The company Financial Holdings (Registration Number 2020/017 637) a Shelf Company registered on the 14th January 2020, a Shelf Company who in less than 2 months in operation made a loss of R626 628 383 million. *** never mentioned on the SENS documents, first time ever on the 2020/2021 Balance Sheets we have searched B2B –Located them under Ecs Financial Holdings and not as ESCPONENT FINANCIAL HOLDINGS 100% Owned according to Balance Sheet by the company, Losses for 2020/21 R1 123 104 926*** A dormant company never ever appearing anywhere but to make major losses during the same time they collapse the “Preference Share” program ***
Section 162(5)(c)(iv) The director’s had, inter alia, allowed the company to continue business in parlous and insolvent circumstances and extracted company money in order to pay for business acquired directly through the major shareholder, with misstatements to investors and to continue selling the ‘Preference Shares”, knowing that being a public company, which required proper accounting systems and was destressed, strong on debt liability to investors.
Herewith, investors suggest that various book entries will show evidence that moneys invested ‘under the MHMK umbrella’ as being part of the investors’ investment in order to appease and assure all parties, from investors through to the JSE that investors’ investments were secure, Investors are by no means duped to believe that any investment held directly or indirectly to a benefit of George Manyere and his “children’s trust” will be to the benefit of investors.
There appears to have been some skimming-off to dubious destinations. It would be problematic to explain where some of the yields ended up . . . they were obviously paid out to one of the companies listed abroad or off shore companies linked to the “Panama Papers” currently been investigated by the South African Police (HAWKS), how is the company going to explain that?