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At the state capture commission, Van Coller painted a picture of a publicly traded company that was plagued by bidding irregularities, inflated license sales, collusion and inappropriate donations before being appointed.
Stephen van Coller, Executive Director of EOH, at the state capture commission on Monday, November 23, 2020. Image: SABC Digital News / Youtube
JOHANNESBURG – EOH CEO Stephen van Coller said Monday the company has had to instill a new culture after years of corruption by what he calls rogue and greedy elements.
At the state capture commission, Van Coller painted a picture of a publicly traded company that was plagued by bidding irregularities, inflated license sales, collusion and inappropriate donations before being appointed.
He said the company had opened up to the commission, regulators and law enforcement agencies, including the Special Investigation Unit.
Van Coller said that as soon as he was named, he called forensic investigators after discovering that the bills for large government contracts made no sense and he did not want the company to be blacklisted.
“There were two Microsoft license agreements with the Department of Defense and there was one SAP license agreement with the Department of Water Affairs; in both cases there was overbilling and poor delivery.”
Van Coller said the company fired its chief financial officer, appointed a new board and adopted new policies.
“The policy against bribery and corruption, especially the sections on presenters or intermediaries.”
He said the company had nearly 300 legal entities and each made its own acquisitions, but is now centralized to safeguard the 10,000 jobs that were put on the line by a few corrupt and greedy individuals.
OBSERVATION: State Capture Investigation, November 23, 2020
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