(Ecofin Agency) - The South African Institute of Chartered Accountants (SAICA) has announced that it will prosecute Anoj Singh (photo), the former Chief Financial Officer of Eskom (the national electricity company) for mismanagement. According to SAICA, Mr. Singh acted improperly and dishonestly, and some of his financial decisions reflect a conflict of interest or undue influence from outside persons.

The organization said the manager irregularly awarded R600 million ($43 million) in prepayments to Tegeta Exploration and Resources, a company owned by the Gupta family. The funds would have been used to acquire Optimum Coal's coal mine.

Let’s note that the former director has 21 days to answer for these charges. He resigned from Eskom in January after being placed on suspension by the power utility company in July 2017, when investigations into his corruption begun.

Gwladys Johnson Akinocho