Claims of improper conduct by the former chief executive may be considered serious, but nothing has come to the fore that he personally benefited from the asset manager's dealings. The claims against Gungubele, More and Zulu suggest that they did personally benefit through Mulaudzi.
Matjila, who has been acknowledged as having been key in putting the PIC among the top asset managers globally over the last decade, is expected to respond to accusations on deals involving Erin Energy; Tosaco Energy; S&S Refinery, Steinhoff International, VBS Mutual Bank and AYO Technology Solutions.
Zulu, who is said to be the most powerful among the Mulaudzi-linked triad, has not appeared before the Mpati Commission, and it remains to be seen if she ever will, as Zulu’s evidence could be the commission's last chance to test the allegations made by the whistle-blower as the commission may now be in its endgame.