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A 45-year-old bank manager has been sentenced to 15 years in jail after he stole millions of rands from an automatic teller machine and a client’s estate account, reports The Citizen.
The Zondo Commission dedicated 100 of the 5 500 pages in its final reports to describe the money laundering systems used to divert the loot of state capture to Gupta ‘bolt holes’ outside SA.
The National Credit Regulator (NCR) was within its rights to launch an investigation into instant loans company Dacqup Finances on the reasonable suspicion that it was violating the National Credit Act (NCA), according to a SCA decision handed down last week (National Credit Regulator v Dacqup Finances CC t/a ABC Financial Services – Pinetown and Another).
SARS has appealed an adverse ruling directly to the SCA, which yesterday overturned the Tax Court decision with costs, including the costs of two counsel.
Al Baraka Bank has failed in its High Court attempt to enforce payment of a disputed debt owed to it by Cecita CC since 2015.
Iqbal Survé’s Sekunjalo Group of Companies has won an interim order preventing Nedbank from closing its accounts pending the final determination of Sekunjalo’s main Equality Court application.
Nedbank is the institution with the biggest exposure to Comair, amassing nearly half of the total of R4bn the airline owed to creditors when it filed a court application last week to wind down its operations and liquidate its assets, reports BusinessLIVE.
Nedbank has appealed a Gauteng High Court (Johannesburg) order to return more than R2m that it illegally charged property developer Dissilio Investments.
As SA battles with the rising cost of inflation and increased cost of living, there is growing debate on whether higher denominations of coins and notes should be introduced.
Capitec's remuneration committee (Remco) says excellent performance and strong leadership before and during the ‘Covid-19 year’ informed its decision to reward its three top executives with R177m.
Almost a quarter of SA’s R340bn worth of strategic infrastructure projects have been delayed or put on hold, according to Standard Bank.
Nedbank has been dealt a blow after losing an SCA battle against Houtbosplaas (Pty) Ltd and TBS Alpha Beleggings (Pty) Ltd, owned by retired Gauteng High Court (Pretoria) Judge Kees van Dijkhorst.
Sekunjalo chairman Dr Iqbal Survé has challenged the Black Business Council (BBC) to retain Ubank, reports IoL. Ubank was recently placed under curatorship.
Judgment has been reserved in the Constitutional Court case brought by the Human Rights Commission (HRC) against three major banks for repossessing homes when small amounts were owed on mortgages.
The Constitutional Court will today hear the Human Rights Commission’s (HRC) case against three major banks for their tendency to apply for default judgments in the High Court against debtors who owe amounts as small as R7 000 on their home loans.
The SA Reserve Bank’s (Sarb) intervention prevented the Gupta’s from siphoning off more billions through the Bank of Baroda, reports the Daily Maverick.
A former senior government official and a former unionist have joined the Sekunjalo group's application against major banks in the Western Cape Equality Court.
Sandile Shezi, the man who claims to be SA’s youngest self-made millionaire, was arrested last week for failing to pay back another alleged victim’s money.
Moody’s Investors Service has upgraded its outlook on SA’s credit rating as high commodity prices support the government’s efforts to rein in debt and reduce budget deficits.
The Reserve Bank says it plans to list African Bank rather than sell it directly to investors after finding expressions of interest from prospective buyers ‘unsatisfactory’.