Interest 'secretly' earned from Lotto

[Sneeky]

Former Lotto operator Uthingo creamed off a secret additional "obscene" profit from interest on ticket sales, the National Welfare Social Service and Development Forum has claimed.

But the National Lotteries Board (NLB) which oversees the process denied this and said the money "swept" from the accounts of ticket sellers every Wednesday would not have spent enough time in Uthingo's bank account to earn interest.

http://www.iol.co.za/index.php?set_id=1&click_id=13&art_id=vn20070630083937266C606319
oh dear hope this proves to be false

 

[LethalChicken]

I don't think there was ever anything 'secret' about this

 

[lsuacner]

Banks compound interest daily. [(40 000 000 * 1.12) - 40 000 000] / 365 = 13150.684931507 in one day.