The NPA’s decision means no one may ever be held accountable for the scheme’s collapse in which 18 600 investors collectively invested R4.6 billion of their savings and pensions. Moneyweb Sharemax SouthAfrica
The National Prosecuting Authority has decided not to prosecute any individuals in connection with the implosion of the Sharemax investment scheme more than a decade ago. The NPA’s decision means no one may ever be held accountable for the scheme’s collapse in which 18 600 investors collectively invested R4.6 billion of their savings and pensions.
Sharemax rescue vehicle makes a U-turn on payments to investors It seems as if there wasn’t any formal interaction between the Sarb and the NPA before the decision was made. “Various prosecutors were involved in this matter over the last decade and there have been informal engagements with the Reserve Bank. The NPA took an independent decision to decline to prosecute,” Makeke said.
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