Holomisa said the sophisticated nature of transactions at the PIC made it difficult for investigators to unveil any wrongdoing., will continue at the Commission of Inquiry into impropriety at the Public Investment Corporation in Pretoria.
On Wednesday, he urged the PIC to upgrade their spread sheet of unlisted transactions as there were many deals that needed to be investigated. Holomisa says the sophisticated nature of transactions at the PIC made it difficult for investigators to unveil any wrongdoing. “One of the most difficult tasks regarding dealing with the type of corruption that is alleged to have happened at the PIC is the sophisticated nature of transactions. Corruption can come in two forms – legal and illegal corruption.”
“Legal corruption occurs when the elite build a legal framework that protects corruption or manipulates existing legal framework without necessarily breaking the law. The task that is faced by this commission is to unravel some of the transactions that have been structured following all the rules but with corrupt intent,” says Holomisa.