A warrant of arrest has been issued for mastermind of a recent multibillion-rand Ponzi fraud scam, said Finance Minister Pravin Gordhan on Tuesday. Over 700 investors have been affected by the scheme and about R12-billion was involved, it has been revealed.
Gordhan spoke strongly about the need to quell corruption and fraud in South Africa. A warrant for Tannenbaum's former lawyer, Dean Rees, has also been issued. Tannenbaum has been living in Australia, according to reports, while the assets of Rees had reportedly been frozen.
Tannenbaum was said to have lured investors with the promise of 200% annual returns linked to pharmaceutical imports and was accused of forging HIV/Aids drug orders to give reassurance when money started to dry up.
Source: Mail & Guardian
Showing posts with label Gordhan. Show all posts
Showing posts with label Gordhan. Show all posts
Tuesday, October 27, 2009
Monday, June 8, 2009
NHI will cost R100bn more
In a speech on Friday, Finance Minister Pravin Gordhan made no reference to the proposal, but mentioned that a task team has been set up at the National Treasury to "explore models for broadening public-private partnerships in the health sector".
A national health insurance scheme could cost the taxpayer an additional R100 billion a year in taxes - an amount equal to about 9 percent of general household spending.
Source: IoL
A national health insurance scheme could cost the taxpayer an additional R100 billion a year in taxes - an amount equal to about 9 percent of general household spending.
Source: IoL
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