BANKING IN THE CAPE (with Stephen Phelps)

Former ABSA director Bob Aldworth is due to appear in court for his allegedly improper involvement in deals that resulted in losses to the banking group of which he was a director. Now it emerges that, in a case which has received far less publicity, well-known director of Cape Investment Bank, Stephen Phelps, did some unfortunate milion-rand deals with that bank while on its board.

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