Trustees sue auditors for R147m over alleged N-e-FG fund mis-investment
The trustees allege Forvis Mazars failed to detect that retirement fund money was not invested according to mandates.
#NeFGFundManagement
Tribunal dismisses N-e-FG executives’ ‘restorative justice offer’
In exchange for their admissions, they sought to substitute their debarments with an undertaking to repay R470m in client losses.
FSCA fines and debars retirement fund administrator’s directors
Fund members lost at least R470m after N-e-FG’s high-risk investments went south in 2021. Now, two of its directors have been fined R30m each.
FSCA withdraws licence of FSP linked to collapsed N-e-FG
The Hawks and the Authority are still investigating whether any of the assets administered by N-e-FG can be recovered.
