Johan Swart, whose KZN ponzi scheme Exclusive Finance was exposed in nose133, is indeed still (as noseweek had heard) hanging out in Ballito and in the same line of business – working for Mr Dharshan Boodhram, who apparently sold Exclusive Finance to the Swarts in the first place.
A CIPRO search shows that Boodhram, who lives in upmarket Sandhurst has fingers in many a pie. He owns a number of companies with confusingly similar names, like New World Enterprises, New World Eduloans, New World Housing Finance, Simunye Brokers & Consultants CC and Simunye Brokers & Consultants (Pty) Ltd.
The search also showed Boodhram as a director of Edge to Edge 13 (Pty) Ltd, and wife Caroline Swart as a director of Edge to Edge 103 (Pty) Ltd. Apparently the assets of Exclusive Finance (such as they are) have been taken over by a cc called either One Lane or Fast Lane. (CIPRO shows no record of either but Mrs Swart did register a cc in May called All At One Finance – so be careful if you’re offered a deal by any of these.)
Apparently five years ago a financial manager at Exclusive Finance, Hugo van den Heever, realising that something was very amiss, took his story to both SARS (tax evasion) and the SAPS (fraud). But there was no follow-up. Pity. Had they done their jobs, a lot of people wouldn’t have lost their money.
[BLOB] People who lost money to Bernie Madoff’s US ponzi scheme are determined to get some of it back. They have issued a string of summonses against companies they claim were complacent in allowing Madoff to operate. HSBC recently got one for $9bn (R85bn), JP Morgan Chase one for $6.4bn and UBS one for a mere $2bn.
In December Carl Shapiro, a Boston philanthropist, was persuaded to hand back $625m (R4.3bn) he had made from investments with Madoff.
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