Managers of Wealth Africa

Ex-PPMC boss to forfeit N2.4bn, property to FG

Investigation revealed that N1.4bn was traced to six accounts in two different banks

The Impact of Illicit Financial Flows to African Economiest

According to the IFF panel’s 2013 African Progress report at the World Economic Forum, the continent was reported to be losing more through IFFs than it receives in aid and foreign direct investment.

Manhattan condo cited in Nigeria corruption case listed for $7.1M

Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News

World changes tack, now targets individuals to take responsibility for their misdeeds

The restrictions have a vein – they are mostly against warlords and the corrupt.

Bridgette Motsepe-Radebe cited in Botswana R10 billion theft

The court heard that Maswabi was found to have more that $390 million in her nine personal global accounts

203 ex-employees drag Union Bank to court

He said that the defendant ignored the Pension Reforms Act 2004 and continued paying the claimants’ regular pension until January 2013 when the National Pension Commission compelled it to comply with the Act.

Old Mutual bid to remove judge a 'desperate attempt' to delay case, says lawyer for Moyo

Old Mutual has denied it is in contempt of court, saying its relationship with its former CEO has been "completely destroyed".

South Africa: fraud considered more serious than murder Heavier punishment imposed

In a recent incident, a fraudster was given a 20-year jail sentence for stealing an accumulative amount of R4.9 million through fraud over a period of time.

Warring parties avert court battle

In June, the group further said in a statement that the board had initiated an investigation into allegation against Darfoor with the results leading to his departure.

South Africa targets billions siphoned off to US, UK, UAE by the Guptas

The bulk of Guptas' assets in South Africa are expected to be auctioned off to repay creditors as the brothers had fled to Dubai

Twice-fired CEO wants Old Mutual directors jailed for six months

He was fired in June, and again in August in an open letter to shareholders in which the company said it was clearly in the best interests of the company and its stakeholders that the employment relationship with Moyo should come to an end.

Credit ombud fired over R850 000, faces criminal complaint

Lala-Mohan, who previously headed the Credit Ombud’s Council, was appointed in November 2015.

‘Fraudsters hacked bank server, stole Flour Mill’s N752m’

Lawal is standing trial alongside his firm, DCAN Oil and Gas Limited.

R415 million laundered using Bitcoin and South African ‘money mules’

Its analysis revealed that the individuals had given their personal details to a money remittance syndicate, enabling it to open accounts with a cryptocurrency exchange.

Ex-Credit Suisse Bankers Will Testify in Mozambique Bribery Case

Detelina Subeva, who worked for Pearse, will also testify for the U.S., according to a person with knowledge of the matter who asked not to be identified.

Mozambique: Ex-CS bankers appointed as witnesses

They appear in the trial of Jean Boustani as a witness, a former manager of a company in Abu Dhabi, which is alleged to have threaded the delicate billion deal for a tuna fleet in Mozambique.

The implications of OFAC sanctions on the Guptas

It is important to note that neither the Guptas nor Essa have been found guilty of any crime by a court.

Bashir's billions and the banks that helped him: Sudan fights to recover stolen funds

A new government and civilian campaigners are determined to fight western banks who helped Sudan's former government embezzle billions

Hawks spokesperson Hangwani Mulaudzi says the investigation into the alleged mass looting of the bank is very complex.

Capital Bank CEO, MD sued for 'stealing GHS100m', 'money laundering'

Count two is abetment of crime, namely, stealing contrary to section 20 (1) and 124 (1) of the Criminal Offences Act 1960 (Act 29).

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