VBS depositors with more than R100 000 receive only a quarter back
Several municipalities have lost about 75% of their money.
#Hawks
Still scheming? Cobus Geldenhuis caught in new fraud allegations despite debarment
Despite a 20-year debarment, a R143m fine, and even losing a leg in a motorcycle accident, Cobus Geldenhuis is allegedly still defrauding investors under a new alias.
VBS scandal: six convicted, 35 arrested – and more to come
Authorities have convicted six individuals in the VBS Mutual Bank fraud case, including former executives and municipal officials. However, with 29 accused still on trial and 43 more suspects under investigation, the case is far from over.
Banking sector providing the Hawks with tools to combat financial crime
The Digital and Financial Forensic Analysis Centre’s latest project is serving subpoenas electronically to obtain bank records.
Arrears in local government sector reach alarming levels
58% of South Africa’s municipalities – 149 out of 257 – are behind on their retirement fund contributions, highlighting a growing issue in local government finances.
Delay in Classic Financial Services investigation: investors demand answers
Significant progress has been made in mapping Classic’s total investor portfolio.
Hawks investigating reported death of MTI founder Johann Steynberg
Brazilian reports spark speculation as South African authorities probe the circumstances surrounding Steynberg’s alleged death.
Jooste’s death won’t affect Steinhoff investigation
A former Steinhoff executive appeared in the Specialised Commercial Crimes Court on Friday charged with fraud and racketeering.
Former Edwafin CEO gets 10-year prison sentence for running a Ponzi scheme
Patrick Stapleton – former CEO of the notorious Edwafin investment company – was recently convicted and sentenced for running a Ponzi scheme, the workings of which seem oddly familiar.
