Arnold Bengis is a 79-year-old South African-born businessman making the most of his twilight years. He’s a benefactor and a philanthropist, giving generously to Jewish causes in Israel. He is a doting grandfather and after two failed marriages has found romance while living in London. He is active on Facebook. In getting here, Bengis […]

Arms deal man sues Absa over closure of accounts. Politically connected businessman Fana Hlongwane, whose bank accounts were closed after he underwent review as a politically exposed person in 2013, is suing Absa for R7m on the grounds that the closure of his accounts was unlawful and that the bank had violated his constitutional rights. […]

The draft Taxation Law Amendment Bill became available to the public for comment on 8 July 2016. The Amendment Bill contains the proposed incorporation of a new s7C, headed: “Loan or Credit Advance to a Trust by a Connected Person”. On promulgation, s7C is expected to come into operation on 1 March 2017, and will […]

Offshore fund group Belvedere Management, which claims to have $16 billion of assets under administration, management and advisory, appears to be one of the biggest criminal financial enterprises in history, headed by David Cosgrove, Cobus Kellermann and Kenneth Maillard, OffshoreAlert can reveal. IT IS not certain if or to what extent investors have been bilked, […]

Johannesburg – The SA Revenue Service (SARS) started looking at the controversial investment company Belvedere Management Group months ago, Netwerk24 reported on Wednesday. Cape Town money manager Kobus Kellerman –  one of two SA kingpins behind the Belvedere Ponzi scam Cape Town money manager Cobus Kellermann – one of two SA kingpins behind the Belvedere […]

IT IS not certain if or to what extent investors have been bilked, or who has done the bilking. Indeed, it is hard to establish very much at all, given the complexity of the case: authorities in the Cayman Islands, Guernsey and Mauritius are all looking into it and a South African financial regulator is […]

The Jersey Financial Services Commission (JFSC) and the South African financial services regulator, the Financial Services Board of the Republic of South Africa (FSB), have signed a Memorandum of Understanding (MoU). The MoU provides a framework for the JFSC and the FSB to exchange confidential regulatory information and co-operate with each other regarding the supervision […]