#GuptaLeaks allege Cosatu robbed in doggy property deal

In a shocking turn of events, new #GuptaLeaks have surfaced revealing a corruption scandal involving the trade union federation Cosatu and a property deal dating back to 2011. The evidence points to Colin Majela, head of Cosatu's investment arm Kopano ke Matla, colluding with Gupta associate Salim Essa and businessman Ebrahim Joosub to manipulate property transactions that led to severe financial losses for Cosatu. This scandal ultimately resulted in the expulsion of then Cosatu General Secretary Zwelinzima Vavi in 2015. The transactions in question involved the sale of Cosatu's old headquarters at undervalued prices while purchasing the new headquarters at exorbitant rates. This duplicitous scheme not only scammed Cosatu out of substantial funds but also tainted the reputation of key individuals like Zwelinzima Vavi, who faced unwarranted criticism and backlash as a result. In an exclusive interview with CNBC Africa, Zwelinzima Vavi, now serving as the General Secretary of the South African Federation of Trade Unions, shed light on the ordeal. Vavi expressed his dismay at the revelations, emphasizing that he and other Cosatu officials were unaware of the illicit dealings orchestrated by Majela, Essa, and Joosub. He highlighted the betrayal of trust that occurred, as the millions of workers' money pooled into Cosatu was misappropriated for personal gain. Despite the injustice he faced, Vavi asserted that legal action to clear his name was not a priority. Instead, he focused on moving forward and addressing pressing issues within the labor sector. Vavi touched upon the ongoing 10-triple one strike, where workers are demanding fair treatment and equal standing in government structures. With a united front, Vavi and the trade unionists involved remain steadfast in their quest for justice and equitable treatment. The ramifications of the Cosatu corruption scandal extend beyond financial losses and personal reputations. The incident underscores the pervasive nature of corruption within corporate and governmental entities, emphasizing the need for stringent oversight and accountability measures. As the saga unravels, questions surrounding ethical practices and fiduciary responsibilities come to the forefront, prompting a reassessment of governance structures and transparency protocols. The exposure of such malfeasance serves as a cautionary tale for organizations and individuals alike, highlighting the importance of vigilance and due diligence in financial transactions. The repercussions of unchecked corruption reverberate far beyond balance sheets, impacting trust, integrity, and societal well-being. As investigations continue and accountability measures are deliberated, the Cosatu scandal stands as a stark reminder of the enduring battle against corruption and the imperative of upholding ethical standards in all facets of governance and business.