Wednesday, December 28, 2005

Fraud-probe urged into fuel shortage

The South African Institute for Corporate Fraud Management says a thorough forensic audit is needed to investigate signs that fraud could have led to the fuel shortages experienced in the country over the past few weeks. The Cape Times quotes Institute president Bart Henderson as saying the Scorpions have already been called on to investigate the matter and the request is under serious consideration. According to Henderson the shortage was not what he calls an ‘’oops”, but rather a matter that compromised national security. He says all the red flags are there that indicate massive fraud. Consumers contribute about 700-million rand a year for the fuel industry to keep a 25-day supply of reserve stocks.

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