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The South African Narcotics Bureau (Sanab) raided Palazzolo's Franschhoek farm, Terra de Luc, and arrested him – seizing 10 guns and diamonds worth 500,000 Rand together with documents indicating that Palazzolo had invested more than 25 million Rand in businesses in South Africa and Namibia. He was declared an undesirable person in South ...
[86] [87] On 11 October 2019, a South African high court denied Zuma a motion to strike down 16 criminal charges of fraud, racketeering and money laundering related to an illegal $2.5bn (£1.98bn) arms deal which allegedly was undertaken in the late 1990s in order to ensure that South Africa's armed forces could buy 30bn rand of European ...
(Bloomberg) -- The head of South Africa’s National Treasury said he is “pretty confident” the country will have addressed regulatory weaknesses in its money laundering controls by year-end ...
The 2020 Phala Phala Robbery or Cyril Ramaphosa Farm Burglary or Farmgate Scandal was a burglary of South African President Cyril Ramaphosa's private Phala Phala game farm near Bela-Bela, Limpopo, South Africa. [1] [2] [3] The incident occurred on 9 February 2020 in which an indeterminate amount of cash was stolen.
TRENTON - A Monmouth County man has been sentenced to five years in prison for laundering money to entities in South Africa linked to widespread internet-fraud schemes, U.S. Attorney Philip R ...
Corruption in South Africa includes the improper use of public resources for private ends, including bribery and improper favouritism. [1] Corruption was at its highest during the period of state capture under the presidency of Jacob Zuma and has remained widespread, negatively "affecting criminal justice, service provision, economic opportunity, social cohesion and political integrity" in ...
Steinhoff International was a multinational holding company that was dual listed in Germany and South Africa. It was officially liquidated on 13 October 2023. [3] Its holdings were in the retail sector, primarily in furniture and household goods, and included a 43,8% stake in South Africa's Pepkor group. The company operated in Europe, Africa ...
Jacob Zuma, the former president of South Africa, is currently facing criminal charges relating to alleged corruption in the 1999 Arms Deal.He was first indicted on the charges in June 2005, but attempts to prosecute him have been beset by legal challenges and political controversy.