Tag Archives: Iqbal Survé

Iqbal Survé claims FSCA raided his office to get info on Cyril, Pravin

Dr Iqbal Survé has claimed Wednesday’s raid at his Cape Town office by Financial Sector Conduct Authority (FSCA) was a “fishing expedition.”

Survé is the chairman of Independent Media and investment company Sekunjalo Group.

Independent Media’s Business Report published details of the raid, including a video in which Survé is seen making the claim while speaking to FSCA officials.

“This is purely a fishing expedition on your part to get information that we have on Pravin Gordhan, on the president and on various ministers and various others and you are trying to get the information because my reporters are about to publish it this weekend,” he said.

‘This is political’

He added that the raid’s purpose was to prevent that information from being published.

He further alleged that FSCA was trying to get the legal position of AYO Technology Solutions, which is linked to him, in relation to the Public Investment Corporation (PIC).

Survé said, “This is political. This is Pravin Gordhan using state institutions to fight political battles because Independent Media is not keeping quiet about the corruption that exists among certain ministers [and] the rogue unit. It’s an attempt to intimidate us.”

FSCA confirms raid

FSCA confirmed conducting a “search and seizure” operation at Sekunjalo Group’s offices as part of an investigation into “market manipulation.”

It said Justice PAL Gamble of the Western Cape High Court granted the order. In May, it said it was investigating AYO for alleged irregular share trading.

AYO was also part of a PIC inquiry earlier this year over allegations that it shifted millions of rand from a PIC investment to other Survé-owned companies.

The businessman has denied all allegations, claiming instead that there is a political campaign against his companies aided by certain media houses.

Independent Media has published a string a exposés against President Cyril Ramaphosa’s administration, including details of CR17 campaign funders recently.

It also published a report alleging how former State Security Minister Dipuo Letsatsi-Duba was a “paid spy.”