KHAYA SITHOLE: Botched bank case shows SA just can’t handle white collar crime
Obvious harm of the Steinhoff saga continues to go unpunished
Only a few months after SA banks were accused of running a trillion-rand currency manipulation scheme and being part of a grand private sector conspiracy to undermine government, a Competition Appeal Court judgment has been published that hopefully brings a halt to the hysteria.
Central to the saga was the Competition Commission’s decision to lodge a case against 28 local and international banks that were accused of manipulating the rand. The genesis of the story seemed solid enough. A few years ago a range of international banks had been found to be engaging in fixing the all-important Libor borrowing rate, to the detriment of every market participant...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.