The National Prosecuting Authority (NPA) has welcomed Palmridge Commercial Crimes Court’s decisive sentencing of former Transport Education and Training Authority (TETA) CEO Pieter Hendrick Bothma.
On Monday, Bothma was sentenced to an effective seven years of direct imprisonment after being convicted of serious charges, including fraud, corruption, and money laundering.
NPA spokesperson Eric Ntabazalila confirmed the details of the sentencing, revealing that Bothma received seven years for fraud, 14 years for two counts of corruption, and an additional seven years for money laundering.
The court ordered these sentences to run concurrently, resulting in a total of seven years of imprisonment for the 64-year-old former executive.
The charges against Bothma trace back to his involvement in the misallocation of over R200 million in TETA funds invested with Fidentia Asset Management (Pty) Ltd between 2003 and 2005.
In September 2003, following inquiries, R15 million was returned to TETA. However, the losses suffered by the authority and its stakeholders were significant and stemmed from Bothma’s negligence and deceit.
Senior State Advocate Thersia Du Toit-Smit provided insight into the detailed nature of Bothma's fraudulent actions. According to the prosecution, Bothma instructed PLJ (the legal firm) to transfer two promissory notes held for TETA to Maddock Inc., while also signing a non-discretionary mandate with Fidentia Asset Management. Intriguingly, he concealed from the board that this mandate was already executed on April 10, 2003, two weeks before their awareness.
His failure to disclose key information continued as he approved the sale of a promissory note before its maturity date, while simultaneously authorising an investment of an additional R50 million into Fidentia Asset Management without the knowledge of TETA's board members.
The situation worsened as Bothma allegedly reinstated these investments annually, ultimately compounding the loss of funds entrusted to him.
The NPA stated: “His actions and failure to disclose the true position induced TETA and the Board to act to the actual or potential prejudice of TETA,” highlighting the gravity of Bothma's misconduct.
Furthermore, it was revealed that Bothma received R1.9 million and R4.2 million from collaborators Steven William Goodwin and JAW Brown to facilitate the illicit movement of TETA funds.
The corrupt nexus between Bothma, Goodwin, and Brown granted Fidentia Asset Management the means to acquire luxury assets, including properties and high-end vehicles.
Bothma’s manipulation of financial transactions disguised the true nature of the funds, which he knew were tainted by unlawful activities.
Following the sentencing, Bothma’s defence team applied for leave to appeal against both the conviction and the sentence.
However, this attempt was successfully opposed by the State.
Ntabazalila revealed that the defence has indicated its intention to file a petition with the Gauteng High Court, Johannesburg, seeking to overturn the conviction and will subsequently request bail pending that petition.
The Star