Ponzi Schemes: Can Liquidators Claw Back 600% of Payouts?
“MTl’s business clearly amounted to an unlawful ponzi-scheme, i.e. a fraudulent investing scam promising high rates of return to investors and generating returns for earlier investors with investments taken from later investors.” (Extract from the MTI judgment) Recent media reports of the MTI (Mirror Trading International) liquidators making repayment demands of investors highlight once again […]
Dual Citizens: Good News if You Lost Your South African Citizenship, But…
“Citizenship is the gateway through which a number of rights in the Constitution can be accessed. It enables a person to enjoy freedom of movement, freedom of trade, and political representation” (Constitutional Court, quoted in judgment below) Note: Many South Africans who should be aware of this new development will be overseas and/or may not […]
Ponzi Schemes: Another MTI Judgment, Risks and Red Flags
“MTl’s business clearly amounted to an unlawful ponzi-scheme, i.e. a fraudulent investing scam promising high rates of return to investors and generating returns for earlier investors with investments taken from later investors.” (Extract from judgment below) In times of economic turmoil, the promise of “easy money” can be incredibly enticing. Unfortunately, this allure often leads […]
Ombuds – Why and How to Use Them
“Who you gonna call?” (Ghostbusters) An “ombud” (often called ombudsperson, ombudsman or ombudswoman, and sometimes not referred to as an “ombud” at all) is an independent and impartial person or office who will investigate any complaint you may have against a business, government agency, or public or private institution falling under their authority. Ombuds seek […]
Living Wills: 6 Myths Busted
Health issues and mortality are facts of life, no matter how remote they may seem at the moment, nor how distressing they are to contemplate. For your family’s sake as well as for your own, make sure that you have a Living Will (or another form of “advance healthcare directive” such as a Durable Power […]
Why You Should Sign a Power of Attorney Before You Emigrate or Travel
If you are emigrating, or perhaps just going overseas for an extended holiday or work contract, you may well leave behind some form of “unfinished business”. Perhaps you own a property, other assets or bank accounts needing attention, or have outstanding tax/business/financial affairs, or contracts to be signed, cars to be licenced, or something else […]
Tax Freedom Day 2022: The Day We Stopped Working for Government
“Taxpayer: One who doesn’t have to pass a civil service exam to work for the government” (Anonymous) “Tax Freedom Day” is the first day of the year on which we South Africans (we’re talking about the “average” taxpayer here) have finally earned enough to pay off SARS and to start working for ourselves. This year […]
Your Website of the Month: How to Avoid Falling Victim to a “Tinder Swindler”
“But love is blind, and lovers cannot see” (Shakespeare) Note: Please think of sharing this article with any family member, friend or colleague who might benefit from knowing which “red flags” to watch for when using dating apps and social media. Even if you haven’t yet watched the hit Netflix film “The Tinder Swindler”, you will […]
Using the New Cybercrimes Act to Protect Yourself
“…cybercrime has increased by over 300% during the COVID-19 pandemic – making it one of the biggest threats to businesses around the globe.” (Property 24 report) The Cybercrimes Act, which has been years in the making, is now (with effect from 1 December 2021) at last largely in force. Although some provisions still remain on […]
South Africans – Don’t Lose Your Own Citizenship When You Apply for Another!
“… it cannot be said as the applicant suggests that the loss of citizenship takes place without notice and automatically as the citizen in that position has proper notice through the structure of the section of both the opportunity to seek consent to hold dual citizenship and the consequences of acquiring a second citizenship without […]