Fi­den­tia ques­tions probe deeper

Finweek English Edition - - Main news stories -

WHAT HAP­PENED| CON­SID­ER­ABLE EDI­TO­RIAL COM­MENT has al­ready been de­voted to Fi­den­tia af­ter SA’s Fi­nan­cial Ser­vices Board placed it un­der cu­ra­tor­ship. At the end of last week, Fi­den­tia ex­ec­u­tive chair­man J Arthur Brown said he was as­tounded at the al­le­ga­tions, as all in­vest­ments can be ex­plained. Ad­ver­tis­ing agency Mar­cus Brew­ster has been ap­pointed to re­store the group’s im­age.

WHAT THE OTH­ERS SAID IT COULD TAKE years to de­ter­mine the ex­tent of the mis­use of funds, the Mail & Guardian re­ported. Quot­ing joint cu­ra­tor Di­nesh Gi­h­wala, it said thou­sands of records would have to be ex­am­ined. The In­de­pen­dent said a six-month in­ves­ti­ga­tion by the FSB has thrown vir­tu­ally no light on the scan­dal in which mil­lions of rand were al­legedly spent on lux­ury ve­hi­cles and prop­erty.

Di­nesh Gi­h­wala

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