What Investec and Peter Gray knew and lied about in South Africa's second-biggest corporate fraud on record.

Yet again, we return to the subject: the strategies employed by Investec and its auditors KPMG with the help of Peter Gray to avoid being held accountable for Investec’s role in – and as a major beneficiary of – Brett Kebble’s theft of shares worth billions from Randgold, a company that Kebble directed.

To protect themselves, Investec and KPMG have jointly contrived to ensure that JCI never produced legally compliant audited annual accounts, as these would have to reflect a massive contingent liability to Randgold, and expose Investec and its appointed directors to huge damages claims, liquidation and possible criminal prosecution.

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