Holomisa set to continue testimony at PIC Inquiry - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bantu Holomisa concedes to PIC inquiry he has not provided evidencePICInquiry Bantu Holomisa says Harith and Lebashe appeared to be the same company “dressed up differently, which seemingly serves as a twin portal to access PIC funds”.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Holomisa concedes to PIC inquiry he has not provided evidenceRegarding the companies Harith and Lebashe, and with which he is already involved in other litigation the UDM leader attempted to evade questions
Source: BDliveSA - 🏆 12. / 63 Read more »

Holomisa concedes to PIC inquiry he has not provided evidenceRegarding the companies Harith and Lebashe, and with which he is already involved in other litigation the UDM leader attempted to evade questions
Source: BDliveSA - 🏆 12. / 63 Read more »

Holomisa accused of using PIC inquiry for own political agendaUDM leader Bantu Holomisa was cross-examined on Wednesday on claims that Lebashe Investment Group unlawfully received money from the Public Investment Corporation.
Source: ewnupdates - 🏆 30. / 53 Read more »

Bantu Holomisa concedes to PIC inquiry he has not provided evidenceRegarding the companies Harith and Lebashe, and with which he is already involved in other litigation the UDM leader attempted to evade questions Dictator caught lying He's fighting for relevance shem, poor apartheid general.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Holomisa accused of using PIC for personal reasonsLebashe Investment Group lawyer Danny Berger is accusing UDM leader Bantu Holomisa of using the PIC inquiry for his own political agenda. Well put General What personal reasons that may be cos as far as i am concerned the general didn't steal money from the PIC? Shouldn't that reasoning be directed to the people who used the PIC as their personal piggy bank?🙄 he will never do it
Source: eNCA - 🏆 49. / 51 Read more »

WATCH: Can the PIC inquiry unravel the Ayo riddle?Business Day journalist Warren Thompson talks to Business Day TV about Ayo Technology, its executives and its relationship with the PIC No riddle, a corrupt slimeball got his buddy, the head of the PIC, to push through an 'investment' into his company in 2 hours, valuing it at 2000% more than the company values itself at, pays himself a R600m dividend, goes and buys property, plays the race card when confronted.
Source: BDliveSA - 🏆 12. / 63 Read more »