Pinnacle Holdings director Takalani Tshivhase has been charged in connection with an alleged attempt to bribe a lieutenant general of the South African Police Service (SAPS) with R5 million.
Pinnacle made this revelation today in a statement to shareholders.
The group says the alleged incident occurred 14 months ago, around 16 January last year.
Tshivhase denies all allegations of attempted bribery, and will defend the charges, the listed company says. It did not provide further details as to the nature of the bribe, and SAPS was not immediately able to shed further light on the matter.
"From the evidence thus far available to the company, the company is satisfied that there is no reason to doubt the veracity of Mr Tshivhase's denial of the allegations," it says.
Pinnacle adds it will review the matter as further information becomes available and inform shareholders accordingly.
Pinnacle's Web site notes Tshivhase joined the company in 2003, after a "successful and varied career in government and commerce".
It adds: "During his tenure at Pinnacle, he has demonstrably contributed to the growth and success of the Pinnacle Group through the successful penetration of key accounts, operational management and strategic direction."
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