Anushka Bogdanov has been fined R500,000 by the Johannesburg Stock Exchange (JSE) after it was discovered that she falsely claimed to hold a PhD from the London Business School.
JSE punishes Anushka Bogdanov for lying about her academic background
According to BusinessTech, Bogdanov listed a PhD in International Finance on her CV when she was appointed to the board of EOH (now known as IOCO) in 2019.
She later served on several high-level committees, including Social and Ethics, Governance and Risk, and Nomination and Remuneration. In 2020, she was made lead independent non-executive director.
However, an internal review by the company found no evidence that she had actually earned the doctorate she claimed.
The JSE, which oversees the compliance of companies listed on its exchange, began engaging with Bogdanov five years ago. After repeated delays, she finally admitted that she did not hold a PhD from the London Business School.
In a public statement, the JSE said Bogdanov’s actions “raise serious and material concerns about her integrity and suitability” to serve as a director. The JSE described her behaviour as “a grave violation of professional integrity and an unacceptable disregard for ethical standards.”
As a result, the JSE imposed a fine of R500,000 and issued a public censure — a formal statement condemning her conduct.
In addition, Bogdanov has been banned from serving as a director or officer of any company listed on the JSE for the next 10 years.
This incident follows a similar controversy involving economist Thabi Leoka earlier this year. Leoka resigned from high-profile board roles after questions emerged about her claimed PhD from the London School of Economics. Despite providing a document she said was proof of her degree, the university said it had no record of awarding her a PhD. She too was fined and publicly censured by the JSE.
Bogdanov’s case first came into the spotlight when Remgro, an investment company, withdrew her board nomination before its annual meeting in December 2023.