• Inside Labour

    Terry Bell looks at the issues of poultry, poverty and desperation.

  • A new ANC sweeper?

    Have the Guptas' new auditors mastered how to look the other way on cue, asks Solly Moeng.

  • Strategy for the big boys

    Formulating strategy across the span of huge companies is a marathon, says Ian Mann.

All data is delayed
Loading...
See More

Probe into R100m missing pension funds

May 26 2011 10:37
Sapa
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
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

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

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...