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Financial Services

'Africa’s most successful trader' Jacques Magliolo accused of fraud, running a ponzi scam

Feb 17 2019 12:35

“Africa’s Most Successful Trader" and "international bestselling author" Jacques Magliolo is being accused of fraud and running a Ponzi scheme.

Financial Services

PIC inquiry expects 'formidable' witnesses in next round of hearings

Feb 12 2019 08:31

The Commission of Inquiry into the affairs of state asset manager the Public Investment Corporation says it expects a "formidable line-up of witnesses" in the upcoming round of public hearings.

Financial Services

Forex cartel case: Standard Chartered pleads guilty to manipulating rand, other currencies

Feb 05 2019 17:18

British multinational banking and financial services company, Standard Chartered, has pleaded guilty to manipulating currencies, including the rand, between 2007 and 2013.

Financial Services

PIC board asks to be relieved of its duties

Feb 01 2019 17:02

The PIC board of directors wants Finance Minister Tito Mboweni to relieve it of its duties, citing various recent events that have "destabilised the institution".

Financial Services

Zweli Mkhize rejects political influence claims against PIC board member

Jan 31 2019 20:20

Minister of Cooperative Governance and Traditional Affairs Zweli Mkhize rejects allegations of political influence on the appointment of a PIC board member.

Financial Services

7 key quotes from suspended PIC employee's explosive testimony

Jan 30 2019 19:31

The Commission of Inquiry probing allegations of impropriety at the PIC has wrapped up its first round of public hearings with explosive evidence from a suspended assistant portfolio manager.


Financial Services

AYO transaction a 'foregone decision', PIC inquiry hears

Jan 30 2019 15:02

The state asset manager's assistant portfolio manager has testified about how the PIC's former head Dan Matjila used his authority to overrule concerns about a controversial R4.3bn investment in AYO Technology Solutions.

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