Fresh McKinsey shame: Secret deals in bankruptcy work exposed

EDINBURGH — The culture of corruption runs deep and wide at McKinsey, the consultancy that worked with Gupta-linked Trillian to capture state funds through Eskom. McKinsey employees worked with their pals at Gupta-linked Trillian to suck money out of Eskom through a "sham" contract – but this greedy behaviour is not limited to the southern tip of Africa. The New York Times has revealed that McKinsey is accused of dirty dealing in its bankruptcy work in the US and elsewhere by secretly benefiting from plans it puts in place to assist the companies in trouble. – Jackie Cameron

By Thulasizwe Sithole

Professional services consultancy McKinsey is in the headlines again in connection with unethical – and illegal – business behaviour. In South Africa, graft-tainted McKinsey is best known for working with Gupta-linked Trillian to siphon R1.6bn out of state owned utility, Eskom.

McKinsey has repaid the money it charged Eskom for a business turnaround plan and has apologised to South Africa. However, a fresh scandal underscores that ethical problems within McKinsey aren't confined to South Africa.

___STEADY_PAYWALL___