Breaching the peace

Breaching the peace

While South African environmentalists have focused on fracking in the Karoo, the world’s energy giants have already begun invading other vast swathes of ecologically sensitive South African territory in the hunt for oil and gas. But because it’s offshore, over the horizon and out of sight, hardly anyone seems to have noticed. By Hilary Venables

Not so Mutual satisfaction

Not so Mutual satisfaction

Gavin Foster reports: "It all started promisingly at the end of July with an undated letter from Old Mutual telling me that the company had established that the asset management fees charged on an investment I had with them some years ago were “slightly overstated” and I was entitled to a refund of R1,033.82."

It wasn't going to be easy actually getting the refund, because of all the forms and verifications required, even though they (OM) already had all the info - after all they'd been debiting the bank account every month with no problem. When approaching Old Mutual the response was: "If you really look at it, we could have just kept quiet and pocketed the profit." Really?

Way off Target

Way off Target

Failing gun control measures are costing South Africa billions. By Gavin Foster

Ever since the Firearms Control Act (FCA) of 2000 replaced the Arms and Ammunition Act of 1969, SAPS has lurched and stumbled erratically over implementing the new law.

In July a commission of inquiry into the Central Firearms Registry (CFR) was set up after two police brigadiers were suspended following allegations of bribery, corruption and arranging firearms licences and temporary permits for various gangsters, terrorists and self-confessed murderers.

The suspensions were not a first for the registry; it suspended most of its senior management in 2004 for allegedly similar behaviour. Then, there were no convictions but most of the suspended police officers left the force rather than return to work.

During the investigation an employee of the gun shop told the Hawks that she had personally delivered large sums of cash to Mangwane at the behest of her employers twice every month, to ensure the swift processing of licences for customers. These included convicted Nigerian terrorist Henry Okah and self-confessed killer Mikey Schultz, who was granted immunity from prosecution when he turned State witness against Glenn Agliotti after pulling the trigger on Brett Kebble.

Absa's poisoned apple

Absa's poisoned apple

It was all very confusing: Absa bank told Captain Teboho Molotsi he had been awarded a rebate for his early homeloan repayment. The same had happened with the car loan, so he saw nothing strange in that. But then he was plunged into unhappy legal demands for the return of the cash.

Molotsi didn't sign any documents authorising the bank to reactivate his bond account that he had settled just three months earlier and the law doesn't allow automatic renewals of credit agreements. So why was the so-called rebate now part of his bond?

Global Trader: more lies and deception

Global Trader: more lies and deception

In attempting to clear the air about their dubious web-based trading platform, Purple Capital's GT247.com has resorted to further smoke and mirrors.

Shortly after nose166 appeared with a story about Global Trader (now called GT247.com), an online platform for trading shares and derivatives, financial planner Peter Calitz of Hout Bay wrote to Noseweek noting that in that same week of publication, Finweek’s Simon Brown was telling his readers how much he likes Global Trader and its parent company Purple Capital.

Calitz copied his letter to the chaps at Finweek.

Noseweek was seriously critical of the way in which Global Trader (GT) generated its huge profits – a story which investors in either company would have found most disturbing.

Big boys forever!

Big boys forever!

The construction industry will continue to display tender regard for the companies which have always dominated at the feeding trough.

One of the most jarring pictures of the recent construction industry tender-collusion drama was that of Sanral boss Nazir Alli appearing in smiling solidarity with the guilty industry bosses at the press conference at which they made a show of apologising to the public.

The industry big boys decided way back that Alli – once an engineer at Ninham Shand (now Aurecon) – would be the ideal person to ensure that the advent of democracy did nothing to upset their lucrative businesses.

UPDATE: Cato Manor

UPDATE: Cato Manor

Racketeering charges against Cato Manor Organised Crime Unit policemen, as well as Provincial Hawks commander Major General Johan Booysen (noses149, 150, 154 & 165), are based almost entirely on hears ...

Woman in search of the truth

Woman in search of the truth

In January, when profiling the newly appointed deputy public protector Kevin Malunga,  Noseweek asked: was he a “cadre” deployment, an apologist for the ANC, a “safe” choice? Perhaps even strategically positioned to help ...
 
Breaching the peace

Breaching the peace

While South African environmentalists have focused on fracking in the Karoo, the world’s energy giants have already begun invading other vast swathes of ecologically sensitive South African territory in the hunt for ...

Not so Mutual satisfaction

Not so Mutual satisfaction

Gavin Foster reports: "It all started promisingly at the end of July with an undated letter from Old Mutual telling me that the company had established that the asset management fees charged on ...

Way off Target

Way off Target

Failing gun control measures are costing South Africa billions. By Gavin Foster Ever since the Firearms Control Act (FCA) of 2000 replaced the Arms and Ammunition Act of 1969, SAPS has lurched and stumbled erratically over ...

Absa's poisoned apple

Absa's poisoned apple

It was all very confusing: Absa bank told Captain Teboho Molotsi he had been awarded a rebate for his early homeloan repayment. The same had happened with the car loan, so he saw nothing ...

Global Trader: more lies and deception

Global Trader: more lies and deception

In attempting to clear the air about their dubious web-based trading platform, Purple Capital's GT247.com has resorted to further smoke and mirrors. Shortly after nose166 appeared with a story about Global Trader (now called GT247.com), an ...

Big boys forever!

Big boys forever!

The construction industry will continue to display tender regard for the companies which have always dominated at the feeding trough. One of the most jarring pictures of the recent construction industry tender-collusion drama was ...

UPDATE: Cato Manor

UPDATE: Cato Manor

Racketeering charges against Cato Manor Organised Crime Unit policemen, as well as Provincial Hawks commander Major General Johan Booysen (noses149, 150, 154 & 165), are based almost entirely on hearsay evidence, or on a statement ...