Court dismisses Shaik s appeal for his assets
Jumat, 30 Mei 2008
| 13:02 WIB
May 29, 2008, 10:45
The Constitutional Court has dismissed the appeal by convicted fraudster Schabir Shaik to reverse the confiscation of his and his company s assets. Shaik had appealed against confiscation of over R33 million worth of assets from his Nkobi companies.
Reading the unanimous judgment, Justice Kate O Regan said that the benefits Shaik and the Nkobi companies received from their shareholding in the arms manufacturers Thint was in fact as a result of ANC President Jacob Zuma s intervention.
Shaik was sentenced to 15-years imprisonment in 2005 when the Durban High Court convicted him of corruption involving Zuma. Shaik s brother Yunis says he s disappointed but relieved that the court battles are now over.
Source and Photo : http://www.sabcnews.com/south_africa/crime1justice/0,2172,170510,00.html