MBABANE:The Financial Services Regulatory Authority(FSRA) has summoned the financially struggling orphans and widows who allegedly lost their monies in the reported well-syndicated corruption masterminded by senior Managers within the Eswatini Electricity Company(EEC) and Likhwane Beneficiary Fund.
As exposed by this Swaziland News earlier on Wednesday, EEC Management including Managing Director Enerst Mkhonta, allegedly colluded with Likhwane Chief Executive Officer(CEO) Peter Mgcini Shongwe to steal over R200million late workers’ pensions by forcing beneficiaries to invest the money with Likhwane against their will.
Likhwane was subsequently closed by the regulator-the Financial Services Regulatory Authority in protection of public funds after detecting what appeared to be a well-syndicated corruption linking the State owned energy company.
The FSRA will address the beneficiaries on Thursday morning to give an update regarding the process of recovering the stolen public funds.
“We are attending an update meeting at FSRA”, said one of the widows whose husband’s monies were allegedly stolen at Likhwane.
The meeting comes after this Swaziland News published an investigative story how the senior Management of the Electricity Company colluded to transfer late workers’ pensions to Likhwane in a well-syndicated plot to steal the public funds.
The Public Service Pension Fund(PSPF).