Special Investigating Unit (SIU), raided the Alexandra Bay Diamond Company in Killarney, Johannesburg earlier today 11 August 2022, following a tip of they got from a whistleblower.
According to the SIU statement, “the SIU received a tip off from a whistleblower that there is alleged serious maladministration in the affairs of Alexkor, in respect of the marketing, valuation, sale and beneficiation of diamonds” read the statement.
The Alexandra Bay Diamond Company has been alleged to have smuggled state diamonds and devaluing them by selling these diamonds to the black market.
Reports claim that the company has been selling these diamonds at 30% below market value to syndicates.
SUI spokesperson, Mr. Kazier Kganyago mentioned to the press the multiple facets they were looking for at the scene in order to investigate further on the company.
“We are looking at different facets. The first part is the contract that was entered into between Alexandra Bay at the time it was called something else, SSI I think it was called and whether that contract was entered into a fair manner whether everybody was given an opportunity that is the first thing that we are looking into. We are also looking into this devaluing of their diamonds because those diamonds belong to the people of this country” he said.
Mr. Kganyago says they are also looking into the syndicates that are buying these diamonds, who these people are, where they are and why these diamonds are being sold at a low price.
After hours of seizing documentations and evidence from the raid which was being conducted at the Alexandra Bay Diamond Company, SIU spokesperson confirmed that they have gathered all that is needed in terms of the order they received from the court.
