Quantcast
Channel: News - The Patriot on Sunday - The Patriot on Sunday
Viewing all articles
Browse latest Browse all 2246

DCEC closes in on ex BCL bosses

$
0
0
Mathambo
Graft busters from the Directorate on Corruption and Economic Crime (DCEC) are closing in on former executive management team and Board of Directors of the now closed BCL Limited over allegations of looting the company through the POLARIS II Strategy. BCL Ltd wholly owns BCL Mine and BCL Investments, as well as an 85% stake in Tati Nickel Mining Company. Highly placed sources have revealed that investigations by the corruption bursting agency with the assistance of Directorate of Intelligence Services (DIS) have unearthed crucial information, which proves that there have been some looting and money laundering during the ambitious project by the mine's executive management. A recently released status report by the BCL liquidator Dixon-Warren reveals that Directors refused to be investigated under oath over their role in the collapse of BCL Limited company. Information gathered by this publication has shown that during the POLARIS II Strategy implementation some top managers and directors found a loophole to loot money from the company through unscrupulous transactions and investing in companies where due diligence was not done. Things took a downward spiral after the approval of the ambitious POLARIS II Strategy in 2015 which was meant transform the company into a diversified…

Viewing all articles
Browse latest Browse all 2246

Trending Articles