Property mogul ‘helped Cyril to move $20m’

• Author: Chevon Booysen
• Published date: 03 November 2022
• Publication title: Star, The (Johannesburg, South Africa)

This is contained in a document apparently authored by former State Security Agency director-general Arthur Fraser which forms part of UDM leader Bantu Holomisa’s submission to the independent parliamentary panel established to determine whether Ramaphosa has a case to answer over the scandal

The letter, believed to have been intended to assist the Hawks in their probe, claims that property mogul Zahir Vallie, owner of ZProp, was contacted by Chauke three weeks after charges were laid against Ramaphosa.

Chauke, according to the document, is “said to have moved $20 m in cash” to Vallie for “safekeeping”.

“He is known to (allegedly) bring large amounts of foreign currency into South Africa from the Middle East without declarations, through Cape Town International Airport. Information received indicates that all his properties bought are cash purchases.”

It claims Vallie’s business’s property portfolio is valued at R800m.

Z Prop, founded in 2016, is identified on its website as an independent real estate company operating from Lansdowne and specialising in buying, developing and managing residential rental properties in the southern suburbs.

“It is well known that his properties are running at a considerable financial loss with low returns, clearly a sign of significant money laundering,” according to the document.

Numerous enquiries to Chauke and Vallie went unanswered.

Probed about the allegations relating to Vallie, Hawks spokesperson Thandi Mbambo said they would leave no stone unturned in their investigation.

“We can confirm that the investigation pertaining to the robbery at Phala Phala and subsequent corruption, fraud and money laundering investigation continues. To protect the integrity of our...