BusinessLive reports that the National Union of Mineworkers (NUM) has called for a special board meeting of the Construction Industry Retirement Benefit Fund to discuss the alleged misappropriation of R4.8m.
The union, which organises in the mining and construction sectors, expressed concern on Tuesday about the possible abuse of monies in the fund, which is administered by Alexander Forbes. Tebatso Mokoena, the NUM's construction sector co-ordinator, alleged that R2.5m was used to buy t-shirts for the fund for marketing purposes without proper procedure having been followed. A forensic audit has been instituted to determine if any fraudulent activity took place and whether the t-shirts were delivered. The NUM wants another investigation into R2.3m that was allegedly paid to printers, “but transferred to another account leaving only R200,000 in the printer’s account”. Mokoena said a special board meeting of the fund will be held soon to discuss the outcomes of the forensic audits. An Alexander Forbes spokesperson said the fund was a client of Alexander Forbes, “thus your enquiry should be directed to them." The fund could not immediately be reached for comment.
- Read the full original of Luyolo Mkentane’s report on the above story at BusinessLive
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