Magda Wierzycka stays silent over attempted extortion charges

By Staff Reporter Time of article published Dec 12, 2018

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JOHANNESBURG - CEO of Sygnia Limited, Magda Wierzycka, who had a charge of attempted extortion laid against her by AEEI and its CEO, Khalid Abdulla, on Tuesday declined to comment on the allegations levelled against her. 

Sygnia Limited is an asset management company listed on the JSE.

Business Report Online contacted Sygnia in an attempt to get a comment from Wierzycka regarding the allegations and were told that while Sygnia is aware of the allegations, they were not willing to comment at this time. 

The charge of attempted extortion was lodged following Wierzycka’s alleged approach to Abdulla to buy back the shares that Abdulla, AEEI, its majority shareholder Sekunjalo Investment Holdings have in Sygnia at a substantially lower price. Failing this, she threatened to continue to write negative stories about Sekunjalo, AEEI and its associated company, AYO Technology Solutions.

Collectively, the three entities own approximately 3,5 million shares. At the time of the alleged attempted extortion, the undue benefit to Wierzycka would have amounted to millions of rands.


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