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DELINQUENT: Lambert Lobelo

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The Companies Act came into effect on May 1 2011. Under the Act, Lobelo, owner of a number of construction businesses, has been barred from being a director of any company in the next five years.

Lobelo was taken to court by his business partner Aobakwe Kukama for misappropriating more than R60-million.

The money, which was a VAT refund from SARS, was supposed to go into Peolwane Properties, where the two are shareholders. But the money was diverted to Diphuka Construction - owned by Lobelo.

Judge ND Tshabalala ruled that Lobelo be declared a delinquent director and that Kukama can institute legal proceedings against Diphuka "for payment of R22,715.22 or such other amount, together with interests and costs ..."

Kukama can also institute legal proceedings against Lobelo on behalf of Peolwane Properties. Lobelo was also ordered to pay Kukama's legal costs.

Thabiso Maseko, of Mncedisi Ndlovu and Sedumedi Attorneys, said: "This is one of the first cases pertaining to the Act. A director is supposed to work in the best interests of the company at all times, and if that does not happen then he can be declared a delinquent. In some cases, the director can also be charged criminally."

Lobelo also owns Tau Pride. Tau Pride was supposed to build a R108-million clinic in Tlhabane, Rustenburg.

An audit firm is currently conducting a forensic investigation into the controversial awarding of the tender.

Lobelo did not respond to Sowetan's enquiries.

Comments

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Tue May 21 12:28:25 SAST 2013 ::

Apr 18, 2012

Pointman

Judge Tshabalala obviously does not care about who Lambert's connections are. Wonder how many families went unhoused and how many kids went untreated becasue the clinic was not built. He did not get prosecuted for the clinic because he has connections in the NW government.
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Apr 18, 2012

Sinudeity

LOL, and fronting is a criminal offense, even though the job gets done.
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Apr 18, 2012

JajasQueen

The fool needs to be jailed. He is one of the corrupt SAns giving our country a bad name.

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Apr 18, 2012

tpaz

Does it make him broke- NO
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Apr 18, 2012

mambaaai

from the article.............A director is supposed to work in the best interests of the company at all times, and if that does not happen then he can be declared a delinquent. In some cases, the director can also be charged criminally." we need something like this for our country , most regions are run in the same way
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Apr 18, 2012

Mohumi007

No wonder all the fancy cars have you seen what kinda cars his employee are driving???? Big machines even PA ya gage some relocated to GP mara anyway the Guy got Mooola go to Mmabatho Shell Garage Opposite Mega City and ask some guys working there gore o ba fa bo kae as a Tip when he refills his car.
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Apr 18, 2012

Papage

Please investigate all Companies that changed names to African names and appointed black directors for them to benefit from EmpowerDex, there are a lot of such Directors in those companies.
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Apr 18, 2012

Sinudeity

Papage - LOL, yeah. Nail the fronting BEE companies, who in the end get the job done. But keep hiring the same BEE companies that screw us out of hundreds of millions for non-delivery.

You got your priorities straight there son.
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Apr 18, 2012

TDK

So he stole R60m intended for the joint company? So se legodu.
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Apr 18, 2012

Mokwepa

hahahhaahahhahahahahahaha!!!!!!!!! its sad hey
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