STANNIC GOES ALONG WITH R15M FRAUD


When the directors of a JSE-listed transport company pulled off a R15m petrol-card fraud in the names of 60 Zulu truckers, Standard bank's vehicle financing arm helped the fraudsters in the cover-up, and in a plot to screw the innocent drivers, so that they could recover their losses. The only thing that bothered the bankers was the 'possible PR problem."

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Keywords:
Stannic
Terrafin
enfranchised contractor
owner-driver scheme
petrocard scam
Graeme Inggs
Hilton Ryan
Alec Hogg
Derek van Rooyen
Standard Bank
BEE
Deloitte & Touche
Associated Transport Management
Stannic Fleet Management
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