The US Securities and Exchange Commission has fined consultancy Gartner $2.44 million for its role in state capture linked to the SA Revenue Service . According to the SEC, the US consultancy violated anti-bribery and internal accounting control provisions of the Foreign Corrupt Practices Act between December 2014 to August 2015 in its work at SARS.
Gartner was brought into the project by an unnamed"private company" in 2014, whose executive director was a"close friend" of a senior SARS senior official. In total, Gartner earned around R200 million from the contracts. Around 30% to 40% of these fees may have gone to consultants linked to Rangewave.
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THE FINANCE GHOST: Have you herd?An investor somewhere is converting rand to dollars at our worst exchange rate, all for the privilege of buying a stock like Nvidia at a record high. What could possibly go wrong?
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