SIU and Hawks swoop in on Alexander Bay Diamond Company

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The Special Investigating Unit (SIU), in working with the Hawks, has seized documents, cellphones, and computers belonging to Alexander Bay Diamond Company. The SIU swooped on the company’s offices in Johannesburg earlier today, as part of a probe into allegations of wrongdoing at state-owned company Alexkor.

Alexander Bay Diamond Company, which is contracted to Alexkor, was implicated in wrongdoing at the state capture commission of inquiry.

Alexander Bay Diamond is accused of secret dealings in the sale of Diamonds through state-owned company Alexkor, and of devaluing the sale of diamonds by 30 percent.

The Special Investigative Unit says its probe will focus on maladministration in respect of marketing, valuation, sale, and beneficiation of diamonds.

SIU Spokesperson Kaizer Kganyago says the investigation is now at an advanced stage.

Kganyago says those implicated in wrongdoing from the state capture report will see their assets attached and possible jail time.

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