Today's Labour News

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popcruCity Press reports that leaders of the Police and Prisons Civil Rights Union (Popcru) are refusing to account for members’ investments worth R200 million that vanished after having been channelled to a mysterious company with close links to union bosses.  

The money, meant for the benefit of police and prison warders, cannot be traced after it was irregularly transferred to an entity known as Popcru Group of Companies Management Services (PGCMS).  Popcru runs a successful investment arm, namely the Popcru Group of Companies (PGC).  The irregular channelling of money meant for Popcru members into PGCMS was picked up in March last year by Sizwe Ntsaluba Gobodo (SNG) Grant Thornton, the union’s former external auditors.  Following letters reporting two sest of irregularities, in August 2019 SNG Grant Thornton cut ties with the Popcru Group of Companies and indicated that:  “Our audit findings in Workers Life Direct (a subsidiary) has indicated two instances of reportable irregularities reported to the Independent Regulatory Board for Auditors.  As a result of the pervasive nature of the impact of these findings, our audit risk has increased to a level which we cannot mitigate for us to continue being external auditors of PGC.”  PGC and all its subsidiaries did not submit audited financial statements last year.  Popcru itself has not had audited financial statements in the past two years.  Popcru’s spokesperson Richard Mamabolo referred all media queries to union chair Loyiso Mdingi and his board.  Mdingi declined to respond to questions, saying the matter was sub judice.

  • Read the full original of Sipho Masondo’s detailed report in the above regard at City Press


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