Friday, April 26, 2013

Sactwu investigates stolen funds

Imogen Vollenhoven
26 April 2013

The South African Clothing and Textile Workers Union will be heading to court over stolen funds. 

Investigation has been underway since 2010 of millions of rands that went missing from provident funds due to fraudulent, negligent and criminal conduct. 

Over 25 000 Sactwu members have been affected. 

Sactwu’s General Secretary Andre Kriel said following mandate that was given to him that he must leave no stone unturned to discover what had gone wrong.

Kriel added that secondly anyone that is found guilty of wrongdoing during the investigation must be prosecuted to the fullest extent.

“And finally that every single cent of the lost monies should be restored,” said Kriel. 

Furthermore Kriel said that their investigation showed that about R400 million has either been mismanaged has been misappropriated or just simply had been abused.

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