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May 27 2012 11:21
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May 27 2012 11:49
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May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Cape Town - Seventeen Land Bank officials have been investigated following the completion of various forensic reports into irregularities at the bank.
The investigations exposed more than R1bn worth of malpractices and fraud.
Responding to a question in parliament, Minister of Finance Pravin Gordhan said 12 members of staff had been dismissed, one suspended and one has already been criminally prosecuted and sentenced.
Three of the 17 employees were reappointed after the investigations, but one of the three subsequently resigned.
In the IT unit three employees were found guilty and dismissed.
Three officials responsible for the credit scheme for small and emerging farmers, Mafisa, were found guilty of misconduct, negligence and fraud and subsequently dismissed.
For loans granted outside the bank's mandate, two officials were found guilty of gross misconduct, but one won an appeal against the finding and was reappointed.
In the AgriBEE fund one official was suspended owing to gross negligence.
Five other charges including fraud were investigated; one official won an appeal and was reappointed.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.