#PICInquiry - Suspended Victor Seanie takes the stand
JOHANNESBURG - Today at the Commission of Inquiry into the PIC, Victor Seanie, the assistant portfolio manager will be testifying.
He is one of the employees that was suspended alongside Fidelis Madavo last week.
Seanie spoke about who was involved in the AYO Technology deal. He said that the previous CEO of the PIC, Dan Matjila and Fidelis Madavo was involved.
Yesterday, the PIC fell into another controversy after allegations emerged that non-executive director Sibusisiwe Zulu allegedly approved transactions worth about R6 billion for her live-in partner, Lawrence Mulaudzi.
Zulu – who is a niece of former ANC treasurer-general and Cooperative Governance and Traditional Affairs Minister Zweli Mkhize, and an acting judge in the KZN High Court – is said to have used the proceeds of this deal to start her lavish lifestyle, splurging on a multi-million-rand mansion in the coastal Umhlanga Ridge suburb and on luxury vehicles.
- BUSINESS REPORT ONLINE