29 May 2008

In an unusual step Nedbank announced PriceWaterhouseCoopers is investigating alleged irregularities by its long standing legal advisers Findlay Niemeyer in failing to account for money it collected from the sale of repossessed homes. Nedbank sells some 200 to 300 houses a month in execution, and only as a last resort.

The investigation is a result of a preliminary investigation by Findlay Niemeyer when the attorneys failed to adequately explain the long delays in the registration of sold properties in possession and in the handling of client foreclosures.

Article on BusinessDay

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