FSCA refutes claim of Banxso licence reinstatement amid ongoing investigation
The liquidation application against Banxso claims that the number of clients deceived by the deepfake adverts is far greater than previously reported.
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Deadline looms for Classic Financial Services’ victims: final call to claim
The liquidators of Classic Financial Services One are continuing with the collection of debts ‘to collect as much funds as possible for the estate’.
R3m fine and 10-year debarment for VBS-linked adviser
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
Banxso: FSCA suspends licence and FIC freezes bank accounts
The Authority says its investigation raises concerns about aggressive sales tactics, unrealistic returns, and significant losses by clients.
Former TETA CEO sentenced to 7 years for role in Fidentia scandal
Court finds that Pieter Bothma accepted bribes to facilitate unauthorised investments, laundering millions for Fidentia’s directors.
Steinhoff’s fall: former CFO Ben la Grange sentenced
La Grange was sentenced to 10 years in prison, with five years suspended contingent on his co-operation with the State in future cases involving Steinhoff’s executives.
Total of R5.3m frozen as court issues second order in ‘pyramid scheme’ case
The National Consumer Commission claims the scheme misled participants with false promises of grocery rewards and high returns.
Accidental confession leads to conviction in insurance pay-out murder
A woman and her accomplice were each sentenced to 26 years in prison for murdering her uncle so she could benefit from his life cover.
First Steinhoff conviction: insider trader avoids jail but must testify against accomplices
Dr Gerhard Burger, who travelled with Steinhoff directors to oversee their health, pleaded guilty to three counts of insider trading.
Court freezes R1.5m linked to alleged pyramid scheme targeting vulnerable consumers
Promising groceries in exchange for a once-off payment, WAPH is under fire for violating the Consumer Protection Act with deceptive promises and recruitment incentives.
Delay in Classic Financial Services investigation: investors demand answers
Significant progress has been made in mapping Classic’s total investor portfolio.
Steinhoff former execs accused of reaping hundreds of millions through ‘fraudulent efforts’
The NPA indictment against former executives Stéhan Grobler and Ben la Grange details how they earned millions due to inflated share prices based on false profits.
How the Steinhoff Group propped up its profits
The National Prosecuting Authority’s indictment against former Steinhoff executives lays bare a ‘sophisticated washing machine’ that generated ‘entirely illusory profits’.
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.
Hefty sentences for members of syndicate who defrauded SARS of R100m
The group claimed R200m in VAT refunds for importing, storing, and selling diesel.
Celebrity chef sentenced to 10 years in jail for R5.3m VAT fraud
Lusizo Henna laundered the R3.1m refund within 14 days of SARS paying the money into his business account.
Man defrauds Santam while in prison for defrauding Mutual and Federal
Oudtshoorn Regional Court sentences husband to 26 years’ imprisonment and his wife and accomplice to 7 years for a ‘well-planned scheme’.
