JUDGE RULES FOR GILL MARCUS

A society watchdog lost its court bid to have the appointment of Reserve Bank governor Gill Marcus revoked. This comes after Ms Marcus revealed in papers before the South Gauteng High Court in Johannesburg that she was forced to take extra safety precautions following threats against her and ABSA boss Maria Ramos by an angry investor who claimed they were responsible for his being cheated out of millions.

The Society for the Protection of our Constitution alleged that Ms Marcus misled President Jacob Zuma, who appointed her, by not informing him that a criminal complaint had been laid against her at the time she was a non-Executive Chair of the bank’s board.

Judge Meyer Joffe said Ms Marcus was not involved in the bank’s daily operations and there was “no merit” in the attack on her Reserve Bank appointment

Source: (www.timeslive.co.za 20091211)

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