SARB seizes vehicles and personal effects from Markus Jooste’s estate
The South African Reserve Bank declares five vehicles, jewellery, and art from the estate forfeit under the Exchange Control Regulations.
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Asset forfeiture and unlawful money schemes
Fraud victims have two distinct remedies: criminal-law-driven asset forfeiture via the Prevention of Organised Crime Act and civil liquidation proceedings under the Companies Act.
SARB and Ibex Holdings reach settlement ending R6.3bn forfeiture dispute
The settlement agreement lifts restrictions on Ibex’s Pepkor shares, enabling the group to drastically reduce its stake.
Ponzi scheme operator sentenced to 10 years for crypto fraud
Five investors sought to recover their money, but the High Court ruled their funds were part of an illegal operation and must be forfeited to the state.
SARB unfreezes R9bn: a win for Ibex Holdings in settling foreign debts
The SARB plans to continue enforcement action against Ibex Holdings, formerly Steinhoff, and other parties but may consider a settlement to resolve the matter.
