This week the PIC Commission headed by retired Judge Lex Mpati heard testimony from board members and executives who could not provide clear reasons why six other senior individuals had not had any disciplinary action against them.
It is well known that former chief executive Dan Matjila was a central figure in the transaction particularly because he signed the subscription agreement approving the R4.3-billion investment. This was done without due diligence being completed and the requisite committee approving it. Evidence leader advocate Jannie Lubbe asked her why Seanie, the most junior person involved in the transaction, was suspended while other senior officials were not?
On Monday board chair Deputy Minister Mondli Gungubele explained that Madavo and Seanie had been uncooperative in the investigation and the board had decided to put them on the precautionary suspension to protect the investigation.
This is only one deal, most definitely there MUST have been many more .
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
PIC required to recover R4.3-billion made to Ayo by March 13 | Business | M>he PIC has confirmed that it received a compliance notice from the Companies and Intellectual Property Commission ordering it to recover the capital investment of R4.3-billion made to Ayo Technology Solutions.
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Ayo: No grounds for PIC to recover R4.3-billion investment | Business | M&GAyo Technology Solutions says there are no grounds for the PIC to recoup the controversial R4.3-billion investment it made into the company, as directed by the Companies and Intellectual Property Commission.
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More unnamed witnesses to testify at PIC inquiry | Business | M&G
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Former PIC board member contradicts Gungubele over board resignations | Business | M&G
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