BHI Trust fallout: beneficiaries reluctant to return millions amid sequestration scrutiny
Investors’ money was allegedly funnelled through offshore trust accounts and ‘cleaned’ via extensive gambling activities by ‘close and related-party enablers’.
Recovery
Grim outlook for Classic’s creditors – shortfall exceeds R70 million
The second creditors’ meeting will be held on 3 September.
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.
Draft Conduct Standard – Pension contribution recovery process tightened
Towards the end of last week, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard and supporting documents on the Requirements related to the payment of pension fund contributions. According to […]
