Explosive and shocking details have emerged of alleged collusion between the Public Investment Corporation and the Companies and Intellectual Property Commission (CIPC) to underhandedly recover the R4.3 billion the PIC invested in the AYO Group.
A source who was present at the meeting disclosed late last night that the compliance notice was issued against AYO a day after a meeting between the PIC and CIPC on February 20.
The meeting took place at the PIC offices in Pretoria and included four of its members and two CIPC members.
The source alleged that the instruction to recover the investment from AYO came from the PIC chairperson and Deputy Finance Minister Mondli Gungubele.
He was apparently supported by board member Sibusisiwe Zulu, who was recently implicated in corruption at the PIC.