South Africa orders probe into $150 billion state pension fund
PIC, which is Africa’s biggest investment fund, said this month its legal head had quit after evidence of wrongdoing emerged during a disciplinary hearing into the collapse of VBS Bank.
The VBS administrator said an in affidavit that anv unnamed PIC executive had taken a 5 million rand ($379,000) bribe to facilitate a 350 million rand payment to the bank.
