Spar Group responds to allegations of dodgy loans, racial bias

JOHANNESBURG - Spar Group's auditors have identified and reported several dodgy accounting practices at the group.

This follows allegations of fraud, fictitious loans and racial bias at the company.

Among the revelations are three fictitious and fraudulent loans totalling R11-million.

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The retail giant’s auditors found no evidence to support other claims of accounting irregularities with any other loans.

Spar Group is juggling allegations of discrimination from companies operating under the brand.

It says it’s participating in a mediation process relating to claims lodged by these retailers.

Spar's response follows on the heels of the early retirement of CEO Brett Botten who leaves the group after serving two years.