Click to go home [logo]
JCI Limited

Announcements and Media Coverage

Company Announcements

NPA to investigate Kebble frauds

 

19 April 2006

The Directorate of Special Operations at the National Prosecuting Authority (also known as the “Scorpions”) has launched an investigation into the misappropriation of millions of rands from JCI Limited and Randgold & Exploration Company Limited.

This follows the publication in recent weeks of the results of forensic investigations into a series of corporate frauds in both companies that led to combined shareholder losses of more than R1 billion.

Peter Gray, who is CEO of both companies, said today that a senior team from the Scorpions had been briefed on the nature of the fraudulent activities that had benefited certain former directors and third parties.

"We have told them what we know to be true about certain transactions and the irregular distribution of corporate funds. We have also outlined our suspicions."

The Scorpions would have full access to all documentation relating to the investigations conducted by independent forensic investigators at both companies.

He said the forensic investigations were ongoing at both companies. New information was continuing to flow from liquidation enquiries, from former executives who were now assisting with the investigation and from external sources that were coming forward.

"We will work closely with the prosecuting authority to ensure that those who have betrayed the trust of shareholders are charged," said Gray.

Media statement issued on behalf of JCI Limited and Randgold & Exploration Company Limited by Brian Gibson Issue Management.
Contact Brian Gibson (011 880 1510 or 083 253 5988)

Back to Main Page