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Dan Matjila, other PIC executives reported to the Hawks, inquiry hears

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Standard Bank legal counsel Ian Sinton said the executives had been reported to the Hawks in relation to the alleged facilitation of an irregular R10 billion loan that included a R45 million kickback from the PIC.

JOHANNESBURG - Standard Bank's legal counsel Ian Sinton said SA Home Loans CEO Kevin Penwarden has reported former Public Investment Corporation CEO Dan Matjila to the Hawks for solicitation of a bribe.

Sinton testified at the PIC commission of inquiry about the alleged facilitation of an irregular R10 billion loan that included a R45 million kickback from the embattled PIC.Penwarden said he complied with his statutory obligations. Maponya’s company, Matome Maponya's Investment Holdings, sought R45 million after he initiated the deal, which involved the PIC buying a stake in SA Home Loans.

 

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