PIC inquiry hears how Ayo executives were instructed to move R400m

Siphiwe Nodwele told the PIC inquiry that its chairperson Iqbal Surve ran it like his fiefdom. Courtesy #DStv403

PRETORIA - The PIC inquiry's heard how Ayo Technology executives Siphiwe Nodwele and Kevin Hardy were instructed to move over R400-million into the account for 3 Laws Capital, owned by media mogul Iqbal Survé.

Last week, Survé told the inquiry he never interfered.

Nodwele has also told the inquiry independent board members appointed for Ayo seemed to be Surve's close friends.

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Hardy became emotional when he testified about an alleged bribe Surve offered him.

"All our expenses would be covered including school fees, chauffeur at our beck and call, etc,” Hardy said.

“I respectfully declined the offer which was an outright bribe and said that I would not be able to convince my wife to move to Cape Town and that she wanted me to have nothing to do with him."

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The Johannesburg Stock Exchange has also been summonsed to appear before the Inquiry.

The Commission wants to question the JSE about its last-minute decision not to list Sagarmatha, a company owned by Surve.

The PIC inquiry is hearing more details about the multi-billion rand investment in AYO Technology Solutions. Courtesy #DStv403

Source
eNCA