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Neotel CFO resigns while under investigation

Paula Gilbert
By Paula Gilbert, ITWeb telecoms editor.
Johannesburg, 27 Nov 2015
Neotel CFO Steven Whiley will "pursue his own interests" rather than wait for an investigation into his alleged corruption to be concluded.
Neotel CFO Steven Whiley will "pursue his own interests" rather than wait for an investigation into his alleged corruption to be concluded.

Neotel CFO Steven Whiley has resigned in the midst of an investigation into allegations of corruption levelled against him.

"As a result of the lengthy duration of the investigation, Mr Steven Whiley has decided to pursue his own interests, and will resign from Neotel with effect from 30 November 2015," according to a Neotel statement issued today.

Whiley and CEO Sunil Joshi were both placed on "special leave" at the beginning of August while the company investigated their involvement in alleged bribery and corruption in connection with a Transnet deal worth R1.8 billion.

This after the Mail & Guardian reported the two were involved in payments worth tens of millions of rands to the letterbox company Homix to clinch the lucrative Transnet deal.

Neotel says Whiley "complied with this process, cooperated therewith and fully supported the board of Neotel" during its investigation.

"With the information currently at its disposal, the board is satisfied Steven Whiley has at all times acted with integrity," says the operator.

Neotel has consistently declined to comment on the progress of the investigation since the news broke.

Non-executive director Kennedy Memani has been acting as custodian and providing interim executive oversight while the CEO remains on leave.

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