# Public Investment Corporation board chairperson, deputy minister of Finance David Masondo, will refer the Acupulco investment transaction matter to the Special Investigating Unit. This follows a legal review of PwC’s forensic investigation into the transaction. In 2013, the PIC provided around 333-million-rand in funding for Acapulco to acquire a 25-percent stake in Lanseria International Airport. However, Acapulco defaulted on repayments, resulting in an accumulated debt of about 630-million-rand. The PIC says the referral aligns with Masondo’s commitment to accountability, consequence management and the recovery of public funds where legally justified.
PIC refers Acupulco’s Lanseria International Airport matter to the SIU