Today's Labour News

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newsIndependent News reports that former Bosasa chief operations officer Angelo Agrizzi on Friday revealed shocking details of how the controversial company used the deaths of its employees and their relatives to generate money to pay for bribes and corruption.  

Testifying at the commission of inquiry into state capture, explained that the scheme involved Bosasa taking out insurance through the Metropolitan Death Benefit Fund to assist bereaved families of its employees.  In its books, Bosasa would make the payment while the family was waiting for the death certificate and then claim it made a double contribution.  In fact, once the fund had paid Bosasa, the money raised was used to pay bribes and for corruption.  Agrizzi said the estimated monthly amount generated was R300,000 through deaths of employees and their family members.  "Employees didn't know about the death benefits scheme," he indicated.

  • Read Loyiso Sidimba’s report on this story at IOL News

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