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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 ...
In July 2021, South Africa's largest asset manager, the Public Investment Corporation (PIC) sued KPMG for 144 million rand (around US$9.5 million) it lost when the VBS Mutual Bank went bankrupt as a result of fraud. Its claim is centred on the rights issue and a revolving credit facility it participated in at VBS relying on financial statements ...
The Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector including Organs of State, better known as the Zondo Commission or State Capture Commission, was a public inquiry established in January 2018 by former President Jacob Zuma to investigate allegations of state capture, corruption, and fraud in the public sector in South Africa.
(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 ...
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 ...
Bushiri's company, Shepherd Bushiri Investments, is a controversial company that has been implicated in fraud, [22] money laundering, [23] tax evasion and ponzi schemes. [24] South African Police seized properties and bank accounts belonging to the company after discovering it had defrauded pensioners of $6 million USD. [25]
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 ...
The corruption trial of a former senior Ecuadorian official charged with laundering more than $10 million in bribes through Miami’s banking system and real estate market may not feature a ...