Shifty shades of Gray


Shifty shades of Gray

Peter Gray was Brett Kebble’s bankroller and laundering stockbroker. He was also Investec’s lead cover-up man.  by Barry Sergeant

In the wake of August’s debacle at African Bank, Investec’s eternal CEO Stephen Koseff was quoted as saying South Africa has a “reputation as a top regulatory destination”.

Investec, like other big banks and corporates, spends untold millions promoting the illusion that South Africa’s regulations (and laws) are among the best in the world. Beneath its veneer, the niche bank conducts itself in a manner that can only be described as astonishing.

One of the most usefully revealing plotlines to follow in the saga is undoubtedly the most recent 17 years of Peter Henry Gray’s career. He was intimately involved in the heaviest sections of the most egregious corporate raid and theft in South African history. Noseweek first set out on Gray’s trail eight years ago in nose81. In the light of what has transpired since, it’s more than due for an update.

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