The Sunday Independent reports that Investec CEO, Fani Titi, is embroiled in a signature forgery scandal with his former friend, Peter Paul Ngwenya.
Ngwenya says he has laid a fraud charge against Titi at Bramley Police Station.
Ngwenya told the newspaper that his company, Columbia Media, bought a 20% stake in Tsiya Radio.
Ngwenya said after he bought the shares, he established the investment vehicle called Shanike and brought in Titi one of the directors.
Ngwenya claims that Titi, and two other directors in Shanike sold the shares in Tsiya to Kagiso for R68 Million in May 2011, and forged his signature.
In his response through an Investec spokesperson, Titi said Ngwenya is abusing the police and was convicted of crimeria injuria in May 2020 over the same claims he is making now.
Rene Schutte, who was a director of Tsiya Radio, told the newspaper that Ngwenya was never a director of Tsiya, but remains a director of Shanike.
She said Tsiya Radio sold its shares in Shanike to Kagiso, and Ngwenya remains a director of Shanike.
She refuted that Ngwenya ever owned 20% shares in Tsiya Radio.
Please read the full story in today’s Sunday Independent – 31 January 2021.
