Kruger v Dhlamini and Others (2914/2015)
Kruger v Dhlamini and Others (2914/2015) [2016] ZAKZPHC 46 (27 May 2016)
The court held that the respondents had participated in a pyramid scheme in contravention of the Banks Act and that the Registrar of Banks had lawfully issued a directive requiring repayment of unlawfully obtained monies. The respondents failed to challenge or review the directive, which therefore remained valid and enforceable. The applicant, as repayment administrator, was statutorily obliged to attach all assets of the respondents. The respondents' arguments regarding disputes of fact and constitutional property rights were found to be irrelevant at this stage, as the attachment did not co…
Source excerpt
- Banks Act Enforcement
- Pyramid Scheme Asset Attachment
- Rule Nisi Confirmation
- Costs Award