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Court hears graft claims against MTN

Aug 26 2012 11:40 Sapa

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 249.44
Change -1.01
% Change 0.00
Cumulative volume 3832537
Market cap 461.05bn

Last Updated: 17/09/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - The Labour Court in Johannesburg this week heard testimony of multi-million rand corruption at cellphone company MTN Group [JSE:MTN], according to a report on Sunday.

The case revolves around an allegation by former MTN legal adviser Violet Magagane-Malao that the company was sweeping her claims of
corruption under the carpet.

She said she was retrenched shortly after tipping off vice-president Ignatius Sehoole of claims that a senior official, corporate services boss Robert Madzonga, signed off on R12.2m in dodgy invoices.

Sehoole asked PricewaterhouseCoopers (PWC) to investigate her claims.

The court heard that a 73-page PWC forensic report found alarming evidence of corruption.

MTN told the Sunday Times that Madzonga would “argue his case in court” and would not comment to the newspaper.

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mtn  |  pricewaterhousecoopers  |  corruption
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