The Public Investment Corporation’s former chief executive Dan Matjila should be investigated over allegations he did not declare the millions of rands he received from VBS Mutual Bank, says United Democratic Movement leader Bantu Holomisa.
In a letter to advocate Jannie Lubbe, the PIC commission’s evidence leader, Holomisa alleged that he has received a forensic report by Nexus Forensic Services detailing loans awarded to Matjila and the PIC’s former chief risk officer, Paul Magula and head of legalThe correspondence comes as Matjila presents his side of the story about a slew of suspicious transactions by the PIC before the Mpati commission.
During his earlier testimony before the commission in March, Holomisa asked the commission to scrutinise the corporation’s unlisted portfolio for any wrongdoing. He mentioned — among others things — the PIC’s investment into Lebashe Investment Group which has former deputy finance minister, Jabu Moleketi as one of its non-executive directors.In the letter sent to the commission, Holomisa said that the report shows that Matjila was awarded a loan of nearly R2.
Holomisa further goes on to question why the alleged funds received by Matjila and other senior PIC officials was omitted by advocate “If the alleged report is anything to go by, one could argue that Dr Matjila had personally benefited from nearly R7.5-million of VBS Mutual Bank money,” Holomisa says.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dan Matjila faces fresh claims over corruption-hit VBS loanUDM leader Bantu Holomisa claims former PIC chief may have improperly benefited from R2.45m VBS loan
Source: BDliveSA - 🏆 12. / 63 Read more »
Holomisa: Matjila’s alleged R7.5m VBS benefitUDM leader Bantu Holomisa alleged Dan Matjila, the former PIC CEO who left the corporation in November last year, got a R2.5 million personal loan from VBS but he didn’t declare this loan. By JustinBrownSA JustinBrownSA Is there just 1? Just 1? JustinBrownSA Had that 2.5m reported to have gone to EFF members, Pauli van Wyk would have drawn some graf trying to make sense of how precisely the cash exchanged hands. Now that Dan is the recipient, the same level of noise can't be heard emanating from the newsroom corridors. JustinBrownSA Hebann Ku rough mos!
Source: City_Press - 🏆 7. / 72 Read more »
Matjila to testify at inquiry this weekThe former PIC - Africa’s largest fund manager with more than R2 trillion in assets under its management - CEO Dan Matjila will tomorrow testify at an inquiry set up to investigate allegations of impropriety under his watch. By JustinBrownSA
Source: City_Press - 🏆 7. / 72 Read more »
#PICInquiry: Matjila defends PIC investments in unlisted portfolios | IOL Business ReportIn his submission to the commission, Holomisa fingered three companies that are directly or indirectly linked to the PIC.
Source: IOL - 🏆 46. / 51 Read more »
#PICInquiry: 'Dan Matjila couldn't have acted alone' | IOL Business ReportPICInquiry: The PSA's Tahir Maepa says PIC CEO Dan Matjila couldn't have acted alone in making final investment decisions at the state-owned entity, adding that every member of the PIC board has to account for any alleged wrongdoing. busrep
Source: IOL - 🏆 46. / 51 Read more »
PICInquiry: I am prudent with people's money, says Matjila | IOL Business ReportPICInquiry: Former chief executive of PIC Dr Daniel Matjila began his testimony at the PIC commission of inquiry by detailing his long and illustrious career, both in academia and in the private sector finance industry. busrep
Source: IOL - 🏆 46. / 51 Read more »