Delta Property Fund

Censure: Forensic investigations uncovered a lack of oversight mechanisms, governance failings and wrongdoing in prior financial periods, which arose during the tenure of previous executive team which resulted in irregularities; commissions with invalid, lapsed or no broker mandates; fraud resulting from unethical dealings; and non-disclosure of related-party transactions to the board. As a result, the Company had to restated annual financial statements for 2018, 2019 and 2020 interims. The JSE imposed the maximum fine of R7.5 million.
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