By Michael-James Currie and Jemma Muller It is well established that the use of cryptocurrency poses significant legal and regulatory challenges with regards to asset recovery. South Africa is no exception, as is evidenced by the recent scams involving Mirror Trading International and Africrypt. Cryptocurrencies are by nature designed to preclude regulatory control. Ownership is … Continue reading Cryptocurrency and Asset Recovery in South Africa
Special Tribunal orders former Transnet Executive to pay back R26.4m in secret profits, more predicted to follow
By Nicola Taljaard and Joshua Eveleigh On 31 of August 2021, Former Transnet Executive Linyenga Herbert Msagala (“Msagala”) was ordered to repay the amount of R26.4 million in ill-gained funds to his former employer after being found guilty of disgorging secret profits whilst managing Transnet Capital Projects. On this day, the Special Tribunal (“Tribunal”) reported … Continue reading Special Tribunal orders former Transnet Executive to pay back R26.4m in secret profits, more predicted to follow
Zambia’s “New Kids” Clean House: Internal Corruption Worse than Previously Feared
New Zambian leadership inherits “empty treasury” After six failed attempts at becoming president, Mr. Hakainde Hichilema finally was sworn in as Zambia’s leader a week ago, representing the United Party for National Development. His new budget for the coming years is expected before month's end, but there are significant roadblocks ahead, partly due to alleged … Continue reading Zambia’s “New Kids” Clean House: Internal Corruption Worse than Previously Feared
Anti-Fraud & Corruption Law in Africa 