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.
#InsolvencyAct
SCA remits case dealing with protection of insurance benefits from insolvency claims
At issue is whether a death benefit received by a surviving spouse is protected from the creditors of an insolvent joint estate.
BHI Trust: R12.4 million recovered, R1.5 billion still at stake
The joint trustees have managed to recoup R12.4m, but R1.5bn remains in claims. The efforts to recover funds through settlements, asset recovery, and legal action continue.
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.
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.
Court orders to assist in asset seizure and unravelling of BHI Trust
Evidence uncovered by BHI Trust’s joint provisional trustees shows the flow of funds from the trust to Craig Warriner.
