Forensic audit traces Classic Financial Services’ missing millions
The joint liquidators have auctioned Cobus Geldenhuis’s residence and taken control of all movable assets belonging to him and his ex-wife, Jackie.
Author: Nettalie Viljoen
Classic Financial Services director and wife’s R66m gambling spree
The estates of the son and former wife of the director of Classic Financial Services have been sequestrated.
Master accepts R1.5bn in creditor claims in BHI Trust scam
The joint trustees’ attorneys are sending letters demanding repayment from creditors who received over R300m in preferential payments in the six months before sequestration.
Alexforbes: OUTvest lift-and-shift date set for 1 July
Chief executive Dawie de Villiers is optimistic about the group’s DFM partnerships, where the target is to write R2.5 billion in the first year.
FSCA flags MyWealth Legatus
The Authority warns the public to exercise caution with MyWealth Legatus, just three months after imposing R73 million in penalties on two of its affiliate companies.
Two pots: Alexforbes predicts R50bn asset outflow in the first year
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
Alexforbes reports 16% asset surge, announces special dividend
Alexforbes is focusing on individual consulting as its main growth area, with in-fund asset flows of R3.5 billion for the year.
AfriForum criticises Craig Warriner’s plea deal for lack of disclosure
The recent plea deal resulting in a 25-year prison sentence for Craig Warriner is under scrutiny for allegedly failing to serve the interests of justice and providing minimal benefit to the State beyond administrative closure.
Road hazard: unfit and unsafe vehicles slip through the cracks in the second-hand market
SAIA says the term ‘write-off’ can have various interpretations, and each insurer uses its own criteria to determine whether a vehicle is uneconomical to repair.
How the NHI shake-up may impact South African healthcare
There are concerns about the sustainability of private providers and whether the public will face higher costs to maintain their current level of healthcare.
Warriner hit with 30-year debarment as FSCA’s BHI probe continues
The suspension of Global & Local’s licence relates to its relationship with BHI Trust, the FSCA confirms.
Pensioner claims cryptocurrency trader could have stopped fraud
The High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.
BHI Trust ‘was run as illegal scheme from inception’
As creditors await repayment totalling nearly R2bn, preliminary investigations by the joint trustees point to potential asset recoveries totalling just over R414 million.
BHI Trust creditors face a dilemma: double down or stand down
The trustees advise ‘that a contribution will currently be levied against creditors until such time that sufficient recoveries are made for the benefit of creditors’.
CMS invites BHF to collaborate, criticises ‘forum-shopping’ tactics
The BHF’s canvassing of key policy issues in the public domain via a ‘deliberately leaked’ lawyer’s letter indicates the organisation ‘has run out of creative ideas’.
CMS denies it is sabotaging medical schemes to boost NHI
The regulator comes out swinging in its response to the Board of Healthcare Funders’ claims of bullying and curatorship abuse.
Ransomware surge signals growing cybersecurity risks, Aon report warns
A number of high-severity ransomware incidents hit insurers’ books in 2023, Aon South Africa’s 2024 Insurance State of the Market Report says.
