News / Africa
'Tito Mboweni's version of illegal loan all lies'
26 Jun 2017 at 09:29hrs | Views
CIEX founder Michael Oatley rejected former Reserve Bank governor Tito Mboweni's claims regarding the Bankorp probe.
Earlier this week, Mboweni shared his views in a Facebook post, following the Public Protector's findings that Absa should repay over a billion rand received as a bailout by its predecessor from the apartheid government.
Mboweni said a special team of experts, which was previously hired to probe the matter, had not found it necessary to pursue it further.
But, the founder of CIEX - a UK-based private investigations company - was disputing Mboweni's version.
Oatley said the findings of the team appointed by the Reserve Bank had in fact confirmed CIEX's version that the Bankorp loan was illegal.
The company had probed the matter between August 1997 and December 1999 on behalf of the South African government.
Oatley said it offered to help recover the funds after the investigation found that the fraud continued even after Absa came into being.
He said Mboweni - who was governor of the Reserve Bank at the time - had rejected their offer, saying the matter would not be pursued, despite having confirmed that CIEX was right.
Earlier this week, Mboweni shared his views in a Facebook post, following the Public Protector's findings that Absa should repay over a billion rand received as a bailout by its predecessor from the apartheid government.
Mboweni said a special team of experts, which was previously hired to probe the matter, had not found it necessary to pursue it further.
But, the founder of CIEX - a UK-based private investigations company - was disputing Mboweni's version.
The company had probed the matter between August 1997 and December 1999 on behalf of the South African government.
Oatley said it offered to help recover the funds after the investigation found that the fraud continued even after Absa came into being.
He said Mboweni - who was governor of the Reserve Bank at the time - had rejected their offer, saying the matter would not be pursued, despite having confirmed that CIEX was right.
Source - eNCA
