#PrellerSquareShooting: CityMed shareholders unaware of shady deal
15:39 Fri, 08 Nov 2019
#PrellerSquareShooting: CityMed shareholders unaware of shady deal | News Article
The testimony of a chartered accountant on Friday in the murder trial of Managing Director Louis Siemens revealed shareholders of the CityMed Day Hospital in Bloemfontein were allegedly kept in the dark.

Pretoria-based auditor at Middel and Partners, Andre Dames, testified in the Free State High Court that his firm’s forensic investigation into the affairs of the day hospital shortly after Siemens’ murder in May 2018, revealed Siemens paid more than R6 million from a company partly owned by CityMed, to accused number one, Stanley Bakili, allegedly without his fellow shareholders’  knowledge or approval.

Siemens was the sole director of the above-mentioned company, named Maleba Trading and Services, in which City Med initially had a 49% stake, while Siemens’ Semela Trust had a 51% stake. The ownership of the company, which rented out surgical equipment to hospitals, including CityMed, would later change.

OFM News/ Lucky Nkuyane & Olebogeng Motse

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