KPMG reveals Gerald Majola’s IPL bonuses fraud - Cricket News Update
Cricket South Africa’s (CSA) Chief Executive, http://www.senore.com/Cricket/Mongezi-Gerald-Majola-c77649, once again came under fire, following the release of the audit report, revealing Majola, alongside another CSA officials, being involved in payments of irregular bonuses to themselves during the 2009 season of the all famous Indian Premier League (IPL).
Based on the facts released by the external audit company, KPMG, Majola was found to be involved in retaining four separate bonuses, worth $590,000 for hosting the IPL and the International Cricket Council (http://www.senore.com/Cricket/ICC-World-Cup-2011-c100625) Champions Trophy in 2009.
The reports stated, “We find that Majola should have disclosed his interest in the IPL contract, at the first board meeting and to CSA directors. This declaration should have been done in terms of (South Africa’s) Companies Act. No such disclosure took place. Majola and (former CSA chief operating officer) Don McIntosh worked hand-in-hand and jointly calculated, determined and authorised the IPL bonuses without deferring to any other CSA official or body. They consequently determined and calculated their own bonuses,”
The matter initially came under light in January 2011, where Majola was blamed for paying irregular bonuses to himself as well as to some of the CSA staff. The payments were made without the official approval of the country’s cricketing board.
As for Majola, when penalized for his fiendish acts, the chief executive turned down all allegations and stated that he was not aware of the issue.
However, Mtutuzeli Nyoka, the board’s premier, accused Majola for lying over the payments, and stated that none of the staff was paid.
Majola was blamed for drawing a large payment for himself and some 40 other CSA staff members, for a total amount worth 4.7 million Rands, by the IPL organizers.
The whole issue arose after the much wealthy cricketing event was announced to be staged in http://www.senore.com/Cricket/South-Africa-c757, following security concerns on the Indian soil. The event took place in 2009 and came as the second season for a much anticipated cricketing event.
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