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Paul Magula

VBS’s fuel scheme lost PIC millions

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Forensic investigation discovers anomalies in withdrawals, but top executives approved them
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Former PIC officials implicated in VBS heist banned from financial services sector

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Paul Magula and Ernest Nesane both sat on the board of VBS to guard the PIC’s interests
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PIC man digs himself a deep hole

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When Paul Magula testified this week about malfeasance, he should have recalled what he reportedly told the VBS investigators
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Former PIC executive denies wrongdoing in VBS looting

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Paul Magula was dismissed by the PIC in April 2018 for poor performance and failing to protect the PIC from risk and financial loss at VBS
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ANC: Heads must roll over ‘alarming’ VBS Mutual Bank report

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The report recommended that more than 50 individuals be criminally charged and held liable in civil proceedings
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Ramaphosa to appoint commission of inquiry to probe PIC

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The PIC recently announced it was appointing a forensic investigator to look into its investment in the embattled VBS Mutual Bank
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Court gags Holomisa over PIC corruption claims

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A major BEE firm and business leaders took Bantu Holomisa to court after he wrote President Cyril Ramaphosa an open letter
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Fedusa calls for former PIC directors linked to VBS Bank to be declared delinquent

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Fedusa wants the pair to be declared delinquent directors for 'failing to apply the highest standards of ethics and good corporate governance'
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Further PIC bloodletting in wake of VBS looting

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The PIC crisis comes as the embattled VBS bank was placed under curatorship in March after Reserve Bank discovered liquidity issues
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Latest

National

Stranded commuters say Ramaphosa’s rail promises ring hollow

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Cape Town’s largest passenger rail line has been closed for months, hitting people’s pockets and adding to road traffic congestion
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National

Focus on FW de Klerk distracted attention from the troubling state of the nation

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Some political analysts say President Cyril Ramaphosa is taking too long to mend the country, others says it is the ANC itself that must be fixed
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National

Eastern Cape MEC orders graft investigation after two workers killed at troubled district municipality

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The killing of two council workers at the Amathole district municipality appears to be linked to tender fraud and corruption
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Press Releases

Press Releases

Response to the report of the independent assessors

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VUT welcomes the publishing of the report of the independent assessors to investigate concerns of poor governance, leadership, management, corruption and fraud at the university.
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Press Releases

NWU student receives international award

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Carol-Mari Schulz received the Bachelor of Health Sciences in Occupational Hygiene Top Achiever Award.
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Press Releases

Academic programme resumes at all campuses

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Lectures, practicals, seminars and tutorials will all resume today as per specific academic timetables.
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Special Reports

Strategic social investments are a catalyst for social progress

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Barloworld Mbewu enables beneficiaries to move away from dependence on grant funding
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Special Reports

We all have a part to play to make South Africa work

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Powering societal progress demands partnerships between all stakeholders
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Special Reports

So you want to be a social entrepreneur?

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Do the research first; it will save money and time later
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Special Reports

Social entrepreneurship means business

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Enterprises with a cause at their core might be exactly what our economy desperately needs
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Special Reports

Looking inwards

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Businesses are finding tangible ways to give back – but only because consumers demand it
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Forensic investigation discovers anomalies in withdrawals, but top executives approved them

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