South Africa’s Financial Services Board (FSB) said last week that it had decided to close its inves- tigation against Jonah Capital relating to the sale of Sentula Mining shares last year.

Jonah Capital’s founder is Sir Sam Jonah, a former Sentula chairperson, and Sentula is the JSE-listed coal-mining and mining services company that has been dogged by financial fraud.

A media release, distributed on behalf of Jonah Capital, stated that the FSB’s directorate of market abuse had decided to close the insider trading investigation into Jonah Capital, Sir Sam and Richard Jonah at a meeting on September 1.

“This relates to the sale of Sentula Mining shares in 2008. No legal action will be taken in this matter,” the statement said.

The shares of Sentula Mining were suspended on the JSE last year after a forensic audit uncovered fraudulent staff activity that had led to the misappro- priation of R242-million.

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