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An explosive Special Investigating Unit (SIU) investigation has uncovered evidence that a “cabal” of master’s office officials, liquidators and insolvency practitioners allegedly captured South Africa’s lucrative liquidation system, rigging appointments, engineering creditor support and, in some cases, committing fraud and corruption to channel lucrative insolvencies to a favoured few.
The details of the SIU’s investigation, which the Sunday Times is making public for the first time, are documented in a report that the elite corruption busters submitted to President Cyril Ramaphosa in September 2023.
Three years on, however, the National Prosecuting Authority (NPA) has yet to…