• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

Probe into R100m missing pension funds

May 26 2011 10:37 Sapa

Related Articles

Sactwu gets interdict to stop layoffs

Sactwu: clothing job losses slowing

Sactwu, retailers sign deal

SACTWU wage agreement

Sactwu not de-registered

Union lauds decrease in job losses

 
Johannesburg - An investigation has been launched into R100m in missing SA Clothing and Textile Workers' Union (Sactwu) pension funds, it said on Thursday.

"I have appointed a senior attorney at one of the top legal firms in South Africa to deal with the allegations," Sactwu general secretary Andre Kriel said.

"If any guilt is proven, the guilty must go to jail for a long time," he said.

Canyon Springs Investments 12 took the funds as an unsecured loan, apparently lost them and faces liquidation, the Star reported on Thursday.

It wrote that the prospects of recovering the money seemed slim. Sactwu claimed about 85 000 workers could be affected.
sactwu  |  pension fund

 
 
 

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
8 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

20 self-made teenage millionaires

From selling lemonade to building webpages, these young entrepreneurs made a pretty fortune!

 
 

Luxury living

Top 10 richest musicians of all time
10 most expensive cars In the world
10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made

Money Clinic

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

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...