Pension Fund capture on steriods

After allegations emerged in court of yet another scam that Regiments Capital used to plunder a Transnet pension fund, Regiments directors quickly agreed to pay half a billion rand to settle all the fund’s claims against it. Regiments Capital has agreed to an astounding R500 million settlement with the Transnet Second Defined Benefit Fund (TSDBF). Regiments is a financial services company that scored hundreds of millions of rands in business from Transnet with a leg-up from the Guptas and their associates. The settlement follows the revelation of a previously unknown…

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Top journo asks the multi-million dollar question

SA-in-peril

If you never read another news story in your life, let it be this one. Ferial Haffajee: How much more pressure can the middle class take before it cracks? Ferial Haffajee (Gallo Images / City Press / Herman Verwey) This has been the whack of a week for South Africa’s middle-class. Under the cosh, the SA Revenue Service opened tax filing season with a bang and with a promise to come after taxpayers like Julius Malema goes after Pravin Gordhan. In the same week, electricity, waters and rates tariffs all…

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