Arena Holdings, owner of Business Day, the Financial Mail and Sunday Times, has placed some employees on precautionary suspension after an internal audit identified financial mismanagement.
The company sent all employees an email on Friday stating that it was taking disciplinary steps against those involved.
It also said Arena is seeking advice on whether to lay criminal charges against those implicated in the financial mismanagement.
It did not disclose the amount of money involved.
The company urged employees to disclose any irregular or criminal conduct they become aware of.
Arena acting CEO Pule Molebeledi did not want to comment further, but sources inside Arena, who asked not to be named, said the suspended employees are from the group’s circulation department.
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