Deputy president's adviser guilty of fraud and corruption

The man known as the African National Congress banker during the struggle against apartheid was convicted today in a corruption scandal likely to affect the political future of his close friend Deputy President Jacob Zuma, who had his eyes set on the top job in 2009.

His voice frequently faltering under the strain of reading a 165-page verdict over three days, Judge Hillary Squires found Schabir Shaik guilty of two counts of corruption and one count of fraud. His verdict portrayed Zuma, who had not been charged, as an active participant in the shady dealings. In an unprecedented move, the verdict was broadcast live on national television.