The Orlando Pirates football club has taken a significant step to safeguard its finances by approaching the High Court in Johannesburg to freeze R20.2 million in four bank accounts linked to its former financial manager, Darryl Joselowsky. This move comes after an internal investigation uncovered suspicious transactions, including R43 million paid into the accounts from the club between 2016 and 2026. The club emphasizes that this action is not an admission of wrongdoing but rather a precautionary measure to protect its assets.
According to documents submitted to the court on September 22, the internal investigation revealed irregular payments, including 742 transactions totaling R8.5 million to unknown individuals. The club has stated that it will pursue the recovery of the R20.2 million and will proceed with the case. Despite the allegations, no court has yet found any wrongdoing, and the club maintains that Joselowsky is cooperating with the investigation. The Pirates stress that their primary focus is on the ongoing season and ensuring that their operations continue as usual.
Darryl Joselowsky, who served as the financial manager for over 30 years, was entrusted with managing the club's bank accounts, payroll, and financial matters. According to Mpumelelo Khoza, the Commercial Manager of the Pirates, Joselowsky had significant autonomy in handling the club's finances, with minimal oversight. This level of control has raised questions about the club's internal controls and oversight mechanisms.
The investigation has revealed that Joselowsky had sole access to the club's bank accounts, allowing him to make financial decisions independently. The club has assured its fans, partners, and sponsors that it is working diligently to resolve the matter and ensure that all parties are treated fairly. The Pirates are set to face Mamelodi Sundowns in the MTN8 quarterfinals at the Moses Mabhida Stadium on Saturday.
The club's swift action to freeze the bank accounts demonstrates its commitment to protecting its financial interests. The Pirates have emphasized that this step is not a reflection on Joselowsky's character but rather a necessary measure to safeguard the club's assets. The investigation is ongoing, and the club has pledged to cooperate fully with the authorities.
The incident has raised concerns about the potential for financial mismanagement in the South African sports industry. The Pirates' proactive approach to addressing the allegations may help to mitigate any potential damage to the club's reputation. The club's leadership has assured stakeholders that they are working tirelessly to resolve the matter and prevent similar incidents in the future.
As the investigation continues, the Orlando Pirates will focus on their upcoming match against Mamelodi Sundowns. The club has expressed its gratitude to its fans for their support and has assured them that the team remains committed to achieving success on the field. The freezing of the bank accounts is a precautionary measure to protect the club's financial interests, and the Pirates will continue to work towards a resolution.
Key points
- - Orlando Pirates freeze R20.2 million in bank accounts linked to former financial manager amid probe - Internal investigation uncovers suspicious transactions, including R43 million paid into accounts from the club between 2016 and 2026 - Club emphasizes that this action is not an admission of wrongdoing but rather a precautionary measure to protect its assets
