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Recent media reports referencing this action alleged that five Sasfin staff members colluded with Gold Leaf Tobacco Corporation (GLTC) to facilitate financial misconduct.

Sasfin takes these allegations extremely seriously.  Sasfin is committed to unearthing the truth and full details relating to the current allegations being made against our employees relating to foreign exchange transactions done by GLTC at Sasfin in 2016 and 2017.   We confirm that GLTC is no longer a client after we terminated that relationship in 2017 after following due process.

We are conducting a comprehensive independent investigation into everything related to this matter and have expanded the scope of this investigation to ensure that we urgently address any evidence of misconduct that might come to light.

We will take rigorous action against any employee who may be identified as having participated in misconduct. Our investigation includes an assessment of the total volumes and values of trade processed, the extent and impact of any record deletion and the fees earned by Sasfin.

We will leave no stone unturned until Sasfin is convinced that any issues surrounding this case are independently investigated and surfaced.  Sasfin commits fully to cooperating with the authorities to ensure that justice prevails.

Any questions or queries should be directed to sasfinmedia@sasfin.com

About the Author

Michael Sassoon
CEO, Sasfin Holdings Limited