Ecsponent begins legal action after probe into R100m MyBucks investment

“Stakeholders are now advised that the board, after completion of the internal investigation, has decided to institute an independent forensic investigation into possible misrepresentation on the merits and purpose of the investment at the time of the initial investment proposal, which may have ultimately resulted in financial loss to the company,” the group said.

Earlier in September, Ecsponent said it had instituted legal action after a forensic investigation into $7.5m in funds received by a Mauritius-based subsidiary. The group said at the time the use and distribution of the funds had been probed.

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