• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

Regulator to probe Liberty chair

Jan 30 2013 18:44 Sapa

Related Articles

Liberty denies fraud claims

Liberty notches higher BEE status

Liberty new business declines

Liberty profit jumps 68%

Liberty earnings up 43%

Fraud charges laid in medical aid dispute

 
Johannesburg - The chairperson of the Liberty Medical Scheme has failed in his effort to prevent the Council for Medical Schemes (CMS) from investigating him, the regulatory body said on Wednesday.

CMS said Daniel Pienaar approached the North Gauteng High Court in Pretoria in March 2012 to try and stop it from continuing with its investigation into allegations which, if proven true, would hold him not fit to manage the affairs of the scheme.

On January 15, the court dismissed Pienaar's interdict application with costs.

The court also rejected his allegations against the CMS, the council said in a statement.

CMS said Pienaar had been opposing the investigations since they were first instituted in December 2010.

Pienaar is being investigated for his conduct subsequent to an alleged attempt by a third party to blackmail the former CEO of Liberty Health Holdings into setting up a marketing company in which he (Pienaar) and the former chairperson of the scheme, Larry Jacques, would have shares.

Jacques resigned in June 2011, before the CMS made a final finding on his fitness, which could have seen him being removed from the board of trustees.

Liberty Health Holdings are the owners of V-Medical Administrators or V-Med, which administers Liberty Medical Scheme.

"It is not just our will to take action where poor governance is alleged; it is our duty," said CMS CEO Monwabisi Gantsho.

It would have been irresponsible for CMS to allow such serious allegations not to be investigated, he said.

"One of the remedies available to us to address governance concerns in a medical scheme is to remove trustees from office where they are found guilty of wrongdoing."

Liberty Medical Scheme had close to 150 000 beneficiaries at the end of 2011.
The claims-paying ability of the scheme remained unaffected by the investigations.

CMS is the regulator of the medical schemes industry.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

The rich will pay - Mpofu

The EFF in Gauteng will focus all its energy on improving the lives of the poor, the party's premier candidate Dali Mpofu says.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...