Legal Articles and Guides
Standard Bank's Sekunjalo appeal dismissed
In another triumph for Sekunjalo and its related companies in their long battle against some of SA’s biggest banks, Standard Bank’s leave to appeal a former ruling made on 14 September 2023 that prevented it from closing Sekunjalo’s various bank accounts, has been dismissed with costs.
Sekunjalo accounts will remain open
In what The Star calls an undertaking that ‘popped out of the woodwork at 4pm’ in the Western Cape High Court yesterday, lawyers for Standard Bank said the bank accounts of the Sekunjalo Group of companies would remain open even if an interim interdict against the bank was not upheld.
Lawyers, estate agents receive grey list guidance
The Institute of Estate Agents of SA (Ieasa) says it is actively engaging its agents to help them comply with the request by the Financial Intelligence Centre (FIC) for risk and compliance returns, reports BusinessLIVE.
Defrauded couple get their home back
Benita and Claude Anderson turned to the Eastern Cape High Court (Gqeberha) in an attempt to get back their home which they lost in a fraudulent financial scheme.
ConCourt dismisses Sekunjalo account closure appeal
Iqbal Surve's Sekunjalo Group has suffered another blow in its war with SA's banks, after the Constitutional Court dismissed – with costs – its efforts to appeal a ruling that allowed three of them to close its accounts.
Cosatu slams KPMG’s confidential VBS deal
Cosatu says the secrecy about KPMG’s confidential settlement with the liquidator of VBS Bank does a disservice to the people who suffered after corruption at the lender caused it to collapse.
Family’s empire crashes after Ponzi scheme debacle
A KZN family of three who allegedly used millions in investors’ money to buy luxury cars, properties and five aircraft have had their assets seized for allegedly running a R75m Ponzi scheme.
Defrauded man wants over R1.6m from bank
Details of how Dr Mohammed Nalla fell prey to fraudsters who withdrew and squandered more than R1.6m from a fraudulent Nedbank bank account into which the money was paid – part of a purchase price towards a house – have emerged in the Gauteng High Court (Johannesburg) as the bank steadfastly refuses to refund him.
Family members arrested for alleged ‘pyramid scheme’ fraud
A KZN father, mother and daughter allegedly linked to a controversial multimillion-rand ‘pyramid scheme’ have been arrested by the Hawks, reports TimesLIVE.
Businessman in the dock over R1m credit card facility
Businessman Rushil Singh, known for flashing his rare supercars on social media, appeared briefly in the Pretoria Magistrate's Court yesterday.
Municipality denies R33m missing from bank account
The IFP-led Zululand District Municipality in northern KZN has denied claims that R33m went missing from its municipal funds, reports City Press.
Almost 10% of South Africans own crypto assets
Nearly 10% of South Africans – 5.8m – own crypto assets, with Cape Town having emerged as the preferred base for entrepreneurs in the sector, data from the Financial Sector Conduct Authority (FSCA) shows.
Nedbank accuses employee of aiding R2.2m fraudster
A Nedbank ‘service specialist’ based at the bank’s Krugersdorp branch who allegedly assisted an imposter in withdrawing almost R2.2m from an account of one of the bank’s clients has had a sequel in the Gauteng High Court (Johannesburg).
Banks refuse to open NFP accounts
Banks are refusing to open accounts for the National Freedom Party (NFP), which is in debt to the tune of R45m and faces a fresh liquidation application from a creditor, says a News24 report.
Former KPMG partner admits to VBS misconduct
A former KPMG partner who resigned in 2018 amid allegations of misconduct involving loans from VBS Mutual Bank has admitted guilt, reports TimesLIVE.
