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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 123
Change 2
% Change 1
Cumulative volume 4807098
Market cap 0

Last Updated: 01/01/0001 at 12:00. 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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