More arrests due in pensions case

clock •

SOUTH AFRICA - The Financial Services Board (FSB) has confirmed at least two more arrests would be made this week in the high-profile pension fraud case involving businessman Peter Ghavalas.

The six-year investigation has already seen 15 arrests made, after Ghavalas allegedly architected a fraud in which surplus pension fund was money siphoned out of a number of dormant companies in th...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on South Africa

South Africa

Franklin Templeton appoints Africa head

SOUTH AFRICA - Asset management firm Franklin Templeton Investments has named Jo-Anne Bailey as director of its African division.

Jaishree Kalia
clock 03 November 2011 •
South Africa

Comment: High-octane ESG

Last month I attended the Principal Officers Association Winter Conference in Johannesburg. The conference touched on many subjects: trustee education, transition management, etc. But the subject that seemed to ruffle feathers the most was incorporating...

Raquel Pichardo-Allison
clock 06 July 2011 •
South Africa

South Africa: Updated regs open doors to new investments

Industry officials largely welcome the update to regulations over investment practices but the move to comply comes with some challenges, as Christine Senior reports

Christine Senior
clock 06 July 2011 •
Trustpilot