Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

newsTGM Digital reports that the so-called ‘Panama papers’ have uncovered how a law firm abroad was used to protect people involved in the Fidential fraud, which was one of SA’s biggest white collar scandals.  

The leaked documents show that at least two of the men involved in the Fidentia fraud used the Panama-based law firm Mossack Fonseca to create offshore companies.  An estimated R1.2bn was misappropriated in the Fidentia scandal.  More than 60‚000 people‚ including widows and orphans of mineworkers who were beneficiaries of a Fidentia-controlled trust‚ were affected.  The Transport Education and Training Authority lost the ability to fund its training programmes.  In December 2014‚ the former CEO of Fidentia‚ J Arthur Brown‚ was jailed by the Supreme Court of Appeal for two 15-year jail terms.

  • Read this report in full at BDLive

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