SHAREHOLDERS in Randgold & Exploration (R&E) have accepted a R150m offer from "big four" accounting firm PwC to settle what was a vast negligence claim dating back to Brett Kebble’s raids on the firm’s assets.Friday’s shareholder meeting closed what was originally touted as one of the biggest accounting scandals since the Enron saga led to the dissolution of Arthur Andersen in 2002.The settlement is a fraction of the R7.6bn for which PwC was originally sued in 2008. R&E’s new management claimed the miner’s auditor had been negligent between 2000 and 2003 when it was part of Kebble’s web of companies.PwC made the R150m offer in April without any admission of liability, and said it disputed allegations that it failed to perform its audit properly.JSE-listed R&E is chasing down millions of rand stolen from the company under Kebble, who was shot dead under mysterious circumstances in 2005.Kebble and his associates plundered R1.6bn from R&E to prop up sister company JCI in a series of co...
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