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Ithala’s provisional liquidation may result in the closure of 257 000 depositors’ accounts while legal proceedings are under way. (Photo: Ithala)
BANKS ACT

Ithala Bank wins court battle – and control of its finances and operations

The judge says the bank is not a Ponzi scheme and cannot be stripped of it non-banking powers

  • Paddy Harper
4 min read
BANKS ACT

State rejects pyramid-schemer’s plea: ‘I stole the money, and plead guilty’

The state has rejected fraudster Roderick Cole-Edwards’ guilty plea for R11.6-million pyramid-scheme theft

  • Khaya Koko
8 min read
AVHASHONI RAMIKOSI

In a bizarre twist VBS liquidators sue KPMG for R863mn

In filed court documents, the VBS liquidators are blaming auditing firm KPMG’s negligence for the alleged looting of the bank

  • Khaya Koko
3 min read
EFF leader Julius Malema. Photo by Delwyn Verasamy/M&G
AFRICAN NATIONAL CONGRESS

EFF tackles apartheid legislation

While the ANC in Parliament found itself defending the presence of FW de Klerk at the State of the Nation address last week, the government was also — in court this time —…

  • Franny Rabkin
7 min read
Bernard Agulhas, the CEO of the IRBA. (Daylin Paul/The Times)
BANKS ACT

Auditors’ watchdog IRBA gets teeth with new Bill

In a Financial Matters Amendment Bill released for comment, treasury proposed changes to the Auditing Profession Act, the law that created IRBA

  • Staff Reporter
1 min read
The ANC’s top six, including Magashule, stepped back from the statement the secretary general issued on a review of the mandate of the central bank on Tuesday which led to the row. (Alet Pretorius/Gallo)
BANKS ACT

VBS bank could come out of curatorship stronger— Treasury

​National Treasury said placing VBS Mutual Bank under curatorship is a better option than liquidation

  • Lameez Omarjee
3 min read