Loading...
See More

Court hears graft claims against MTN

Aug 26 2012 11:40 Sapa

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 0
Change -4
% Change 0
Cumulative volume 3765547
Market cap 406.64bn

Last Updated: 19-12-2014 at 04:41. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

R12m fraud: Whistleblower, MTN in court

Rand hedge stocks retain their worth

US sanctions hurt MTN in Iran

MTN in talks to repatriate Iran funds

Growth in Iran, Ghana boosts MTN

 
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.

*Follow Fin24 on Twitter, Facebook and Google+.


mtn  |  pricewaterhousecoopers  |  corruption
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

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

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

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