18 Oct 2011

Investigation Uncovers Fraud in over 40 Contracts

An investigation conducted by South Africa’s Department of Public Works, in partnership with the police’s Special Investigation Unit, uncovered irregularities in over 40 contracts worth around $390 million.

The results of investigation will lead to criminal charges against officials involved in the awarding of the contracts under suspicion of fraud. Among the problems identified by the investigators are irregular expenditure, false book keeping and other corruption crimes.

For the full article on bloomberg.com, please click here.