Axed Old Mutual CEO Peter Moyo says jail terms are the appropriate punishment for Old Mutual directors for the contempt of court he is accusing them of.

Responding to Old Mutual’s court papers filed last week when the insurer argued there was no basis for the court to find that its directors disobeyed its order, Moyo said anything less than a term in custody would be “disturbingly inappropriate” because Old Mutual has committed the worst type of court disobedience.

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