Koko did get bail, which was set at R300 000 following his court hearing and he has to surrender his passport.
Matshela Koko, former Eskom big-wig, was arrested on charges related to irregular contracts at the Kusile Power Station.
In the court proceedings following his arrest, Koko was granted a R300 000 bail, with several other conditions.
Why was Koko arrested in the first place?
Following a series of raids by the Investigating Directorate (ID) in Mpumalanga and Gauteng on Thursday, eight people were arrested for their alleged involvement in corruption at the Kusile Power Station.
Matshela Koko, who is the former chief executive officer of Eskom, was among those arrested, because of his involvement in the contractual irregularities for the building process of this power station.
Did Koko get bail?
Matshela Koko, members of his family, and the other accused, who are just eight out of the total 17 accused, appeared at the Middelburg Specialised Commercial Crimes Court on charges that include corruption, fraud, and money laundering.
Although Magistrate Deon Van Rooyen heard Koko’s pleas that he was unemployed and could not afford a high bail amount, the judge ruled that someone with an international business was not unemployed and was a flight risk. Subsequently, Koko’s bail was granted at R300 000.
Koko’s wife and stepdaughter have also been implicated in the court proceedings, as they benefited from the alleged financial crimes, but their bail was set at a lower amount.
What were the other terms of Koko’s bail?
Aside from the bail amount of R300 000 that was set for Koko, he has also been barred from entering any ports and has been ordered to surrender his passport, as he is considered a flight risk, because he has international business interests that amount to millions of dollars.
Who were the other accused that have bail set at R300 000?
Koko is not the only one whose bail was set at R300 000. The other accused, who were equally as heavily involved in the R2.2 billion deal, including Hlupheka Sithole, Watson Seswai, and Thabo Mokwena, were granted bail for the same amount at the hearing.
How much was the rest of the Koko-family’s bail?
Koko’s family, including his wife, Mosima Koko and his two stepdaughters, Koketso Aren and Thato Chomba, as well as their lawyer, Johannes Coetzee, had their bail set at R70 000 and also had to surrender their passports.
