Africa-Press – Eswatini. David Van Niekerk, the Director of the multibillion Fintech has confirmed facilitating the recovery of R35million Status Capital being part of the money that disappeared in the widely reported R340million Ecsponent investment.
Speaking this week in an exclusive interview, the South African businessman first clarified that he was never involved in Ecsponent Eswatini but, it was the main company Ecsponent that bought his shares in MyBucks, subsequently took control and he became a non-Executive Director thereafter.
A non-Executive Director(NED) is a board member who provides independent oversight and guidance to a company, but not involved in the day-to-day management or operations.
The businessman said, he has been a victim of a well-syndicated false narrative linking him to the missing funds with an alleged intention to divert the attention from the real culprits.
David Van Niekerk said, he managed to meet the King, he applauded him for the fruitful engagements adding that, he made a commitment to the Monarch that he will facilitate the return of all the public public funds that went missing while he was the Non Executive Director(NED).
The businessman said, the King was so concerned with the reports suggesting that, thousands of emaSwati lost millions at Ecsponent and politely asked him to at least, assist in returning the money back to emaSwati.
But the businessman said, even though “he has gradually facilitating the return of the public funds as per his commitment to the King, “the Status Capital Management and Board members are not paying it back to emaSwati” who lost their monies but keep on pushing a narrative that, millions were lost without updating or paying the investors part of the money that has already been recovered.
“I was a Non Executive Director and all investments made on my watch will be recouped.However, they were 5 year terms and the Board and Management team want their hands on these funds early as they want to line their own pockets.The previous Management CEO and Board asked me to facilitate an early disinvestment and then I got involved and arranged for some of the investments to be repaid early. This money never reached the members and simply went to the board, management and friends and family.Last year I arranged more than R10 million to be early repaid.The Board can still not show me where the funds went. Last month alone they withdrew R2.4million members money from the Treasury Accounts and used it for overheads,” said the businessman.
On another note,the businessman said emaSwati who lost their monies must monitor and demand accountability of the already paid R35million, he consistently mantained that, the Management and Board members are already looting the recovered public monies
“The Management have long been running a narrative that the society has lost money on investments-all while paying themselves exorbitant salaries, paying unnecessary costs and unnecessary legal expenses to related parties and extending loans to themselves-all with members money,” he said.
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