Head Topics

Pastor Colin Davids multimillion-rand Ponzi scheme case postponed to November

  • 📰 IOL
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

South Africa Headlines News

The Bellville Commercial Crimes Court has postponed the long-running case of Colin Davids, the pastor accused of running a multimillion-rand Ponzi scheme, to November 29.

In affidavits filed in court, the AFU presented evidence that Platinum Forex, a close corporation based in Parow, unlawfully collected more than R100 million from unsuspecting members of the public under the guise that it was a lawful investor that invests in foreign exchange investments, also known as forex.

At the time, the court said that of the more than R300 million that was initially invested in Platinum Forex, only about R100 million remained, and the judge ruled that a curator would oversee the process of distributing the frozen funds to investors. This is because Platinum Forex was not registered as a financial service provider and was not legally allowed to conduct the business of a banker.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Playing Colin Kaepernick | We talk to the star of the Netflix series Colin in Black and White | ChannelPlaying Colin Kaepernick | We talk to the star of the Netflix series Colin in Black and White - ItsJadenMichael
Source: Channel24 - 🏆 48. / 51 Read more »

Missing person case opened for husband of murdered KZN pastorKwaZulu-Natal police spokesperson, Colonel Thembeka Mbele said that a missing persons docket had been opened at the Brighton Beach police station for Liezel’s husband, Werner de Jager.
Source: IOL - 🏆 46. / 51 Read more »

Case against 85 zama zamas postponed as NPA tries to verify their detailsEighty-five people accused of attempted murder and illegal mining in North West have appeared in the Orkney Magistrate's Court. 𝐈 𝐬𝐭𝐚𝐫𝐭𝐞𝐝 𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐭𝐡𝐞 𝐝𝐚𝐲 𝐈 𝐭𝐨𝐨𝐤 𝐭𝐡𝐞 𝐜𝐨𝐮𝐫𝐚𝐠𝐞 𝐭𝐨 𝐠𝐢𝐯𝐞 𝐚 𝐭𝐫ial with Renee_tasker 𝐚𝐧𝐝 ever since then I have not had any issues of scam all thanks to 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥 𝐰𝐢𝐭𝐡𝐝𝐫𝐚𝐰𝐚𝐥. You can contact her :+1 (413) 300-1136 Wr still have an NPA_Prosecutes ?
Source: IOL - 🏆 46. / 51 Read more »

Senzo Meyiwa's brother: Police have the wrong suspectsSifiso Meyiwa was speaking outside Court in Palm Ridge where the murder case was postponed on Monday morning. Then can he tell us who then We all know this. if you know your brother's killers just open a case please.
Source: eNCA - 🏆 49. / 51 Read more »

Beijing Marathon postponed indefinitely due to COVID-19The Beijing Marathon has been postponed indefinitely after Sunday's race was called off amid rising COVID-19 cases in China, the BBC quoted organisers as saying. I gave listening ears to her mentorship. It haven't been easy with my investment of $300 i receive $1000 in return I don't want a huge return I only wanted a trusted trader educator. I want to use this time to give due appreciation to Mrs rosemarysimon_1
Source: TimesLIVE - 🏆 28. / 59 Read more »

Beijing Marathon postponed indefinitely due to COVID-19The Beijing Marathon has been postponed indefinitely after Sunday's race was called off amid rising COVID-19 cases in China, the BBC quoted organisers as saying.
Source: SowetanLIVE - 🏆 13. / 63 Read more »