The Johannesburg Stock Exchange (JSE) has imposed a R500,000 fine and a 10-year directorship ban on Anushka Bogdanov, a former non-executive director of EOH Holdings (now iOCO), for falsely claiming to hold a PhD in International Finance from the London Business School.
Bogdanov served as an independent non-executive director at EOH from June 2019 until her resignation in July 2020.
During her tenure, her curriculum vitae and a formal declaration to the JSE stated she held a PhD in International Financial Management and Mathematics from the London Business School.
EOH subsequently discovered that Bogdanov never obtained the claimed degree, leading to an extensive JSE investigation.
Despite multiple opportunities to provide proof, Bogdanov failed to substantiate her qualifications and eventually admitted in late 2024 that her PhD was fabricated.
JSE’s Findings and Penalties
The JSE found Bogdanov in breach of its Listing Requirements, citing a lack of integrity and ethical standards.
The false qualification led EOH to misrepresent her credentials in public disclosures, damaging investor trust.
As a result, the JSE issued:
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A R500,000 fine
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A 10-year ban from holding directorship roles in JSE-listed companies
Broader Implications
This case highlights the importance of transparency and accountability in corporate governance. The JSE’s decision reinforces its commitment to upholding ethical standards and maintaining market integrity.
Bogdanov’s censure serves as a warning to corporate leaders about the severe consequences of misrepresentation in South Africa’s financial sector.
