After a 2-year investigation, South African president won't be charged over $580K hidden in a couch

CAPE TOWN, South Africa — South African President Cyril Ramaphosa won't face criminal charges over a hidden cash scandal that was revealed more than two years ago and led to an investigation by a special police unit, prosecutors said Thursday.

A former national security chief laid a criminal complaint against Ramaphosa in June 2022, accusing him of kidnapping, bribery and other crimes in relation to the theft of $580,000 in U.S. banknotes that was stashed in a couch at the president's ranch.

The former security boss, Arthur Fraser, alleged that Ramaphosa had been keeping the cash hidden in furniture at his ranch to evade South Africa's foreign currency laws when it was stolen.

Instead of reporting the theft, Ramaphosa tried to cover it up by having members of his presidential protection unit track down the thieves, kidnap them and then bribe them to keep quiet about the existence of the money, Fraser said in the affidavit filed with police.

The theft happened at Ramaphosa's game farm in rural northern South Africa in early 2020 and had been kept quiet until Fraser's allegations. It forced Ramaphosa to admit the theft took place and threw his presidency into turmoil ahead of a crucial party leadership vote.

He survived the scandal and was reelected as South African leader this June, while the criminal investigation had been ongoing. Ramaphosa, 71, was also accused of money laundering, tax evasion and breaching foreign currency laws over the cash.

He denied wrongdoing and said the cash came from the legitimate sale of buffaloes at his Phala Phala game farm.

Ramaphosa said he reported the theft to the head of his police protection unit, though he didn’t explain why the money was hidden in the couch.

Prosecutors said in a statement that the decision not to bring any charges against Ramaphosa or anyone on his security detail came after “a comprehensive investigation process.”

The scandal, at times referred to as “farmgate” in South Africa, led to opposition parties bringing an impeachment motion against Ramaphosa in Parliament. His African National Congress party used its majority to block the motion in late 2022, while Ramaphosa was also cleared by the reserve bank and an independent watchdog.

Two men and a woman, one of whom was reportedly a worker at Ramaphosa's farm, were arrested last year and charged with breaking and entering and theft.

The allegations against Ramaphosa were seen by some to be politically motivated, with Fraser a close ally of former South African President Jacob Zuma. Zuma stepped down in 2018 while facing allegations of corruption and was replaced by Ramaphosa, who was his vice president. Zuma and Ramaphosa have since become fierce political foes.