Deloitte, a leading professional services firm, is embroiled in a scandal that has already claimed the head of the first Motswana CEO of Standard Chartered Bank Botswana, on Thursday. The departure of Moatlhodi Lekaukau follows allegations of corruption made to banking regulators by Oseg Group, a local business process outsourcing and financial services firm, for arbitrarily flouting Basel regulations governing debt to liquidity ratios by establishing illegal overdraft facilities and inflating results by not reporting impairments. "The bank hid its impairments and continued to make withdrawals from a hidden account that had been registered in my name," Oseg CEO Majakathata Pheko said. "The false impression was created with regulators that I was servicing my loan whereas instalments were debited from an unauthorised illegal overdraft facility to service a nonperforming loan. "In July 2014 I was told to service my loan account and in November 2014 my account reached write-off stage. M...

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