Shady PIC home loan deal reported to Hawks

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Several people from the PIC have been reported to the Directorate for Priority Crime Investigation regarding a suspicious deal.

Dan Matjila, Royith Rajdhar, Wellington Masekesa from the PIC and Kholofelo Maponya were all reported to the Hawks regarding the transaction origination of fees related to a deal with SA Home Loans.

JP Morgan, one of the two stakeholders in the company, agreed to sell their stake to GEPF represented by the PIC. Sinton stated Standard Bank was reluctant to give consent for the sale but was eventually persuaded by Matjila.

 

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