DANMAR CEO HOWARD BLOOMBERG : Said to have lived it up on the company credit card to the tune of R18.5 million
Former President Nelson Mandela’s eldest daughter, Makaziwe MandelaAmuah owns a 26% stake in the company. CEO Howard Bloomberg owns 54%, and Colin Yach, a chartered accountant who worked for Blue Label Telecoms before joining Danmar, owns the remaining 20%.
Bloomberg and Yach have been accused of having used Mandela as a “BEE front”.
Danmar Autobody was for several decades recognised as the panel beating business on the Reef favored by the likes of Mercedes Benz and various major vehicle insurers.
From March 2019 to January 2020, Bloomberg drew R700,500 in cash from the Danmar bank account at ATMs at local casinos
Danmar’s downward spiral appeared to have started in 2017 when Bloomberg, Mandela-Amuah and Yach bought the business – and some branches gained from Imperial Holdings – for R20m, according to the business rescue practitioners who took control of the company in February this year.
Danmar’s employees have been left without an income since December, and its many creditors are seriously out of pocket.
Soon after it went into business rescue (on 24 January), its major client Mercedes Benz and various insurers cut ties with the company. Founded in 1989, Danmar had four branches in Gauteng and one in Cape Town and employed over 200 people.
هذه القصة مأخوذة من طبعة September 2020 من Noseweek.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 2020 من Noseweek.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Lennie The Liquidator Faces R500,000 Defamation Suit
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Panel Beater De Luxe
Danmar Autobody and its erstwhile directors get a serious panel beating in court papers. Corruption and theft are said to have destroyed the firm chaired by Nelson Mandela’s eldest daughter, leaving 200 workers destitute and threatening to kill.
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OUR SCHOOL WAS IN THE MIDDLE of the bush, ten miles from the nearest town in the harsh beauty of the Zimbabwean highveld. It started life in World War II as No 26 EFTS Guinea Fowl, a Royal Air Force elementary flying training school and I arrived there in 1954, just seven years after it became an all-white co-ed state boarding school.
