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PIC rejects report its CEO pocketed R5m from VBS Bank scandal

Daniel Matjila says while he views the allegations as malicious and without merit, he will subject himself to any probe that arises from them.

Public Investment Corporation (PIC) CEO Dan Matjila. Picture: PIC

JOHANNESBURG - The Public Investment Corporation (PIC) has rejected any suggestion that its CEO Daniel Matjila pocketed millions in the VBS Mutual Bank scandal.

The PIC released a statement on Wednesday evening welcoming Advocate Terry Motau’s report which reveals how 53 individuals and companies stole an estimated R1.8 billion from the bank over three years.

Motau notes a claim that R5 million was offered to the PIC boss but says he could not make a definitive finding. He recommends the claim be investigated further.

Matjila says while he views the allegations as malicious and without merit, he will subject himself to any probe that arises from them.

(Edited by Thapelo Lekabe)

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