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Suspended PIC employee 'being used as scapegoat' for PIC, Ayo deal

Victor Seanie was suspended last week along with the head of listed investments Fidelis Madavo for their involvement in the R4,3 billion investment.

A screengrab of Vic Seanie appearing at the PIC Inquiry on 30 January 2019.

JOHANNESBURG - Recently suspended Public Investment Corporation (PIC) employee Victor Seanie says he's being used as a scapegoat for the controversial Ayo transaction when in fact it was the corporation's executives who signed off on the deal.

Seanie was suspended last week along with the head of listed investments Fidelis Madavo for their involvement in the R4,3 billion investment.

Seanie decided to give evidence at the commission of inquiry on Wednesday to show how the deal went ahead.

WATCH: Suspended PIC exec Victor Seanie gives evidence at inquiry

Seanie says he was the "voice of reason" when it came to the Ayo transaction and he wanted to practice due diligence.

But his concerns fell on deaf ears and Madavo told him the Ayo transaction was a favourable one.

Seanie says former CEO Dan Matjila, who had a friendship with Iqbal Survé, is the one who pushed through the deal, despite advice against it.

He says his suspension is unfair.

“I was scapegoated and suspended as a result of expressing independent views in the merest of our clients and being accused if whistleblowing, which I didn’t do.”

Seanie has been commended for coming forward.

The commission has adjourned until the end of February.

(Edited by Shimoney Regter)