NTT Ltd. sued its former global chief executive officer Jason Goodall in the UK over alleged fraud in the sale of Dimension Data’s Johannesburg headquarters.
NTT Ltd. sued its former global chief executive officer Jason Goodall in the UK, alleging he had a secret financial interest in a Johannesburg deal that was meant to improve the Black Economic Empowerment rating of the telecoms company’s South African arm.
“Goodall and the other executives’ conduct in arranging and acquiring their interests in the Identity Fund and concealing and failing to disclose those interests amounts to gross misconduct involving dishonesty,” NTT’s lawyers said in the court filing.Identity Fund was unaware that there was a case taking place in the UK, it said in an emailed statement. The fund, however, denied any wrongdoing and saidwere based on hearsay and are “defamatory distortion.
Goodall’s “fraudulent misrepresentation” means he should repay the $17.6 million he received as part of his retirement package in 2021, argued NTT and Dimension Data. Dimension Data, South Africa’s biggest listed technology stock before a 2010 buyout by NTT, decided to sell its Johannesburg headquarters for the twin purpose of selling assets unrelated to its core business and improving its Black Economic Empowerment rating, according to NTT’s court filing.
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