OLD MUTUAL"S CULTURE OF CORRUPTION


Ten years ago Old Mutual was shaken by the discovery of massive share scams involving its investment department and senior portfolio managers. That time outsider Greg Blank was dramatically hauled under the legal spotlight - while the cover-up proceeded apace at Old Mutual.
Now things have once again gone horribly wrong at Mutual Park. (In all probability they were simply never put right.) This time the scandal involves the billions that the insurance giant invests on behalf of the hundreds of pension funds it manages. Once again Mutual executives were confident that they could avoid liability for their poor management, arguing all the way to the Appeal Court that they are not subject to the laws designed to protect pensioners. How so, you ask? Simply because it has for so long not been “practice” at Old Mutual to comply with the law! Indeed.
Join us for a closer look at Old Mutual’s scandals, old and new, and we’ve no doubt you’ll agree: it’s time to go, Mr Levett! Old Mutual needs a leader who appreciates Old Mutual's role in SA's business culture and displays respect for corporate ethics

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