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Suspended PIC COO faces police report after lifestyle audit reveals unexplained transfers

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Public Investment Corporation,PIC,Chief Operating Officer

Forensic investigators appointed by the state-owned asset manager, the Public Investment Corporation (PIC), have recommended reporting suspended chief operating officer Vuyani Hako to the police. This comes after a lifestyle audit, triggered by a whistle-blower report, uncovered “suspicious transactions”, with transfers exceeding R4.5-million into Hako’s home loan accounts.

Forensic investigators appointed by the state-owned asset manager, the Public Investment Corporation (PIC), have recommended reporting suspended chief operating officer Vuyani Hako to the police. This comes after a lifestyle audit, triggered by a whistle-blower report, uncovered “suspicious transactions”, with transfers exceeding R4.5-million into Hako’s home loan accounts.

Hako, who occupies the fourth most powerful position in the PIC, was placed under precautionary suspension in June 2022 after allegations of misconduct were made against him. He remains suspended 18 months later

 

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