Trillian CEO Eric Wood pocketed "hundreds of millions of rand" after buying up US dollars shortly before Nhlanhla Nene was sacked as finance minister in December 2015, a parliamentary inquiry heard on Tuesday. "On Nenegate, I was told, but it's unconfirmed, that Wood and his people traded on the pre-knowledge [that Nene would be fired]. In November, Wood bought US dollars before the change of minister," a former Trillian employee, Mosilu Mothepu, told parliament's public enterprises committee.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.