PIC commission targets private company investments
The commission of inquiry into the Public Investment Corporation (PIC) has set its sights on nine recent investments involving politically-connected individuals that the government asset manager made in private companies. At the same time, notes Legalbrief, it is also arrowing ...
Spy tapes mole linked to Pentagon project
While Andre Pienaar, founder of C5 Capital and exposed as the mysterious ‘Luciano’ in the leaked ‘Zuma spy tapes’ saga, is involved in a bid for the Jedi Pentagon Project – a cyber-cloud that will store highly sensitive data including ...
R1.13bn in irregular death claims identified
Death claims worth R1.13bn were found to be irregular and, therefore, not paid out in 2017, according to The Association for Savings and Investment SA (Asisa). It found that about 31% of all fraudulent and dishonest claims were detected ...
MTN/Nigeria forex case postponed
A Nigerian judge yesterday adjourned a hearing over the forex dispute between MTN and the central bank until 22 January. As previously reported in Legalbrief Today, the dispute is over the transfer of $8.1bn of funds, which Nigeria’s central ...
Moyane to appeal High Court ruling
Disgraced parliamentary official fights to clear his name
Treasury slammed over irregular spending
Auditor apologises for 'misdeeds'
Zondo Commission extended
Warning issued over investment scam
Why Necsa board was supended
Bosasa addresses R500k campaign loan
Scammer impersonates SA celebs
End of Aurora mines ... again?
R7bn Transnet project hits a snag
CSA sued over aborted league
Mashaba wants Batohi meeting on corruption cases
Kuben Naidoo warns of new banks risk
Senior journalist fired over Prasa tender
Legislation: Input sought on FICA compliance guidance papers
The Financial Intelligence Centre has called for comment by 10 January 2019 on two draft guidance papers on complying with the requirements of specific sections of the 2001 Financial Intelligence Centre Act, reports Pam Saxby for Legalbrief Policy Watch. According ...
Legislation: Financial Institutions Conduct Bill out for comment
The draft Conduct of Financial Institutions Bill seeks to establish ‘a consolidated, comprehensive and consistent regulatory framework’ that: protects and promotes the ‘fair treatment’ of financial customers; supports ‘fair and efficient financial markets’; and promotes innovation, competition, financial inclusion and financial services ...
How Ramaphosa side-lined the ANC
When confronted with the common political dilemma of having to consider pleas from the politically connected, President Cyril Ramaphosa has washed his hands by appointing the most likely independent prosecutor in recent history. After all, notes analyst Ralph Mathekga in ...
Pension benefits error demands urgent intervention
The unpaid benefits crisis in SA worsened with the Financial Service Board’s (FSB) ‘cancellations project’, which entailed the mass deregistration of more than 5 000 pension funds between 2007 and 2013. It remains to be seen how the Financial Sector ...
Pauw targets Mazzotti and Lebelo again
Self-confessed cigarette smuggler and EFF benefactor Adriano Mazzotti has admitted to also donating ‘hundreds of thousands of rand’ to the ANC. Adriano Mazzotti, a director of controversial cigarette company Carnilinx, said he made the donations to the ANC either personally ...
Rest of Africa
Museveni addresses graft probe
A video clip of Ugandan President Yoweri Museveni berating a local reporter during a press conference about his government's fight against corruption has sparked controversy. ‘You parasites. You go misrepresenting our work. You don't have that right. You ...
‘Agencies’ blamed for freezing Nigerian politician's accounts
An opposition candidate in Nigeria's upcoming elections has accused the government of freezing his bank account. Peter Obi, the vice-presidential candidate of the People’s Democratic Party, claims all transactions on personal and business accounts belonging him, his wife and ...
Former Mugabe deputy in centre of ownership battle
A Botswana company involved in a fierce ownership tussle for retail chain store Choppies has claimed former Zimbabwe Deputy President Phelekezela Mphoko was both bribed and used as a front to defeat the country's Mugabe-era indigenisation law that barred ...
NGOs object to Amendment Bill
Niger targets major operator
Harare warns illegal fuel traders
$2.3bn initiative to target Sahel terrorism
Maputo flags 30 000 ghost workers
Illegal electricity connections hampering economy
Land reform ‘done and dusted’, but ...
Tanzania allays investor’s concerns
Apple accused of violating Egypt's competition law
Egypt has warned it will take legal action against Apple if the US tech giant fails to remove alleged 'restrictions' on local distributors within 60 days. A decree threatening action has been published in the official gazette after accusations from ...
Google addresses fresh privacy flaw
A privacy flaw that inadvertently exposed the names, e-mail addresses, ages and other personal information of 52.5m Google+ users last month convinced the company to close the service in April instead of August. Google revealed the new closure date ...
Flashy Indian mogul faces extradition from UK
Vijay Mallya, the multimillionaire former owner of the Force India Formula One team and self-proclaimed ‘King of the Good Times’, can be extradited to India to face allegations of fraud. According to a report in The Guardian, Mallya, chair of ...
Death threats after official blows whistle on politicians
Fraud trial of former Tesco directors collapses
Armstrong strikes gold with Uber
Steinhoff results delayed
* Steinhoff International has announced a further delay in releasing its 2017 financial year results. 'Unfortunately, despite significant efforts being exerted by all parties, it is now clear that the timeline for completing the group consolidated financial reporting and audit process ...
Municipality seeks to recoup salary
* A Gauteng municipality has been advised to consider reclaiming money paid to a CFO and former municipal manager who allegedly misrepresented his qualifications. A report by Gobodo Forensic Investigative Accounting recommends that Gauteng’s Lesedi local municipality consider recovering the more ...
Suspects in court in graft case
* Four senior officials and a director of a private company appeared briefly in the Phuthaditjhaba Magistrate's Court for allegedly defrauding the bankrupt Maluti-a-Phofung municipality in the Free State. The five suspects allegedly conspired and colluded during October 2016 and ...
Watson in the dock
Sassa officials jailed
Porritt's appeal dismissed