Former PIC CEO Dan Matjila says he's not corrupt, nor has he ever accepted a bribe from VBS Mutual Bank. In fact, he's blaming two former PIC officials for the VBS debacle.
JOHANNESBURG - Former PIC CEO Dan Matjila won't take the fall for the asset manager's involvement in the VBS Mutual Bank saga.
Matjila was on the stand for the seventh day at the PIC Inquiry.
He stated Magula did this in an attempt to distract attention from his disciplinary hearing and gain public sympathy.
Matjila denied having discussed or agreed on an origination deal with anyone or payable to any person in relation to SAHLs application for a second line of credit.
He further stated the allegations against him are malicious and may have originated because it was erroneously believed that Matjila was withholding the approval of the second credit deliberately.
Matjila says that’s not the case.
The former CEO said in reference to allegations that he had accepted bribes, “<this is> abhorrent to me and deeply upsetting to my wife and my children”.
He's also shifting blame onto the regulator.
"Institutions such as African Bank almost fell through the net. And VBS did fall through the net," he said.
"So where was the regulator when all this was happening?"
His marathon testimony will continue on Monday.