Legal Articles and Guides
Cloned Banxso trading despite FSCA clampdown
The controversial trading platform Banxso has cloned its operations under a new brand, AfriMarkets reports Moneyweb.
Embattled Sasfin posts R58.7m loss
Sasfin, which has been trading under threat of JSE suspension over its delayed annual results, yesterday announced it posted a R58.7m headline loss in its year to end June, reports TimesLIVE.
SARB settles Steinhoff R9bn fund dispute
The SARB has settled part of its dispute with the Ibex group of companies, formerly Steinhoff, releasing R9bn to pay foreign creditors that the bank blocked in July.
Investec fraud accused Sishani Singh dies
Nishani Singh – who could have shed light on the murders of Cloete and Thomas Murray – died in Chris Hani Baragwanath Hospital on Saturday.
Expelled MKP founder loses bank account challenge
In another legal blow, the Gauteng High Court (Pretoria) has ordered that Jabulani Khumalo, the expelled founder of the MKP, be removed as a signatory to the party’s Standard Bank account.
ConCourt closes the door on Sekunjalo
The Constitutional Court yesterday ruled that an attempt by Iqbal Surve's Sekunjalo Group to appeal the dismissal of its racism case against Nedbank – which it used to block the closure of its accounts – has ‘no reasonable prospects of success’.
ATM wants Parliament to probe ‘forex cartel’ case
The African Transformation Movement (ATM) is forging ahead with its plans to have Parliament establish an inquiry into the allegations of rand manipulation involving national and international banks.
SIU and Transnet sue Nedbank for ‘corrupt’ transactions
Nedbank faces a potential repayment to Transnet of R10.5bn relating to the commercial bank’s role in executing questionable financial transactions on behalf of the state-owned entity (SOE) during the state capture years.
Nedbank embezzler imprisoned for 18 years
A former universal banker at Nedbank’s Makhanda branch received what the Gqeberha Specialised Commercial Crimes Court believed was a fitting sentence for embezzling millions from the bank.
AfriForum considers interdict appeal options
After obtaining an urgent interdict in June stopping Nersa from considering municipal tariff applications for 2024/25 and increases without cost studies, AfriForum demanded Nersa’s compliance by Friday.
Standard Bank denies funds stolen in cyber attack
Standard Bank has denied that it suffered a cyber attack despite a raft of complaints, News24 reports.
Banxso’s link to the Banc de Binary scam unpacked
The Cape Town-based trading platform Banxso has strong links to one of the world’s largest international binary options scams operating between 2010 and 2017.
Rand manipulator avoids US jail term
SA national Neil Phillips yesterday avoided a US prison term for manipulating an exchange rate in order to trigger a $20m barrier option.
Crypto marketer gets bail in fraud case
Neil de Waal, a promoter for multi-level marketing scheme GS Partners (GSP), has been granted R15 000 bail in the Benoni Magistrate's Court after making an appearance on charges of fraud.
SCA overturns ENS cybercrime ruling
The SCA has overturned a High Court ruling that had found leading law firm Edward Nathan Sonnenberg Inc (ENS) liable to pay a woman R5.5m stolen by fraudsters who manipulated emails sent from the firm, reports GroundUp.
