Home / Finance News / PIC launches forensic probe on VBS

PIC launches forensic probe on VBS

JOHANNESBURG – The Public Investment Corporation (PIC) has launched a forensic probe into all transactions made on its investment in VBS Mutual Bank.

It says it’s concerned about reports that two of its former employees are implicated in the scandal.

The PIC has a 25 percent stake in VBS Mutual Bank.

WATCH: VBS customers get their cash

It said it hopes the investigation will reveal whether any of its officials were involved in the looting of the bank.

VBS was placed under curatorship earlier this year, amid allegations of mismanagement and fraud.


About admin

Check Also

Goldfields dumps KPMG

JOHANNESBURG – Another JSE-listed mining company has dumped KPMG as its auditors. Goldfields says …

Leave a Reply

Your email address will not be published. Required fields are marked *