Orlando Pirates Move to Freeze R20.2 Million Linked to Former Finance Manager
Orlando Pirates have issued an official statement after reports emerged that the club has launched an urgent High Court application aimed at preserving more than R20 million linked to former finance manager Darryl Joselowsky amid allegations of systematic fraud.
According to a report by the Sunday Times, the Soweto giants are seeking to freeze four bank accounts associated with Joselowsky, which reportedly contain a combined balance of R20.2 million. The legal action is part of an effort to secure funds while investigations into certain financial transactions continue.
The report further states that Pirates are seeking additional information from Standard Bank to trace the movement of the funds, establish where the money may have been transferred, and identify any individuals who may have benefited from the alleged scheme.
The matter has attracted significant attention, with the club moving swiftly to address the reports through an official statement. Orlando Pirates acknowledged the legal proceedings but stressed the need for the matter to be handled through the appropriate legal channels.
“Orlando Pirates Football Club is aware of media reports concerning a court application brought by the Club,” Pirates said in their statement.
The Buccaneers explained that the application is intended to protect the club’s financial interests while investigations are ongoing. “The Club has asked the High Court to preserve funds linked to certain financial transactions while those transactions are investigated. This is a precautionary step to protect the Club’s funds during the process.”
Pirates were also keen to emphasize that the application should not be interpreted as proof of wrongdoing. “The application is not a finding of wrongdoing and should not be interpreted as one. The individual concerned is cooperating, and the Club is committed to a fair process for everyone involved,” the statement added.
The club further reassured stakeholders that its football and commercial activities remain unaffected by the legal developments. “Our supporters, partners and sponsors can be assured that the Club’s day-to-day operations and commitments continue as normal. Our focus remains on the team and the season ahead.”
While the Sunday Times report has brought the matter into the public spotlight, Orlando Pirates maintain that the steps taken are precautionary and designed to preserve funds while the investigation continues. The club has indicated that due process and fairness remain important principles throughout the proceedings.
Concluding the statement, Pirates said: “As the matter is before the court, it would not be appropriate for the Club to comment further at this stage. We will provide updates when we are able to do so.” For now, the club’s focus remains on protecting its interests through the courts while allowing the legal process to determine the full facts surrounding the transactions under investigation.