Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH

[vigras rojara]

Damn, how many people are going to step into Mamba's trap?

How about answering the question, oh wise Solomon....

 

[¯\_(ツ)_/¯]

How about answering the question, oh wise Solomon....

Easy, one more than before you posted.

 

[vigras rojara]

Easy, one more than before you posted.

OK then.

 

[hungrymamba]

This doesn't directly affect my pocket, unless it's related to publicly funded contracts. If I worked for them or was a shareholder, I'd be outraged. You and I are shareholders in government, like it or not.

You do know that EOH does business with a hoard of government departments and entities. You are so shortsighted and one-track-minded it's actually scary - remove the blinkers. All corruption is equal.

 

[AlphaBravo]

It turns out it was only about 8 individuals caught looting the business over 4.5 years of R1.2b. They will be criminally charged as well as civil to try get some cash back. Hate to be them right now...

 

[AlmightyBender]

This doesn't directly affect my pocket

Um you realize that EOH is a publicly listed company that almost all retirement funds would have been invested in right? Events like this wipe out those savings and investments almost overnight.

 

[AlmightyBender]

Um I don't, thanks for clearing that up. So almost all Sotuh African RA funds are invested in EOH? Really?

Yep, every single index fund would have been invested at the minimum which makes up a large portion of the retirement fund market. Actively managed, hard to tell, but common sense would imply most of them would have some holding due to the relative good performance of EOH over the last few years.