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South African court types and levels South Africa’s lower courts Chiefs’ and Headmens Courts Chiefs’ and Headmens Courts administer African customary law, subject to the Council of Traditional Leaders. Small claims courts Small claims courts hear civil cases involving claims below R15,000. Usually these claims are brought by individuals rather than companies. For example, they may involve claims for money or goods that are owed, claims for damages or claims based on violations of contract terms. Magistrates’ courts Magistrates’ courts are divided into district and regional courts. District courts hear civil matters involving claims below R200,000 and less serious criminal cases, involving offences other thanRead More →

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How cryptocurrency Ponzi schemes work At their cores, most cryptocurrency Ponzi schemes are just old-fashioned Ponzi schemes wrapped in the modern, high-tech veneer of cryptocurrency. While the cryptocurrency lingo can be confusing, the schemes themselves are relatively easy to understand. Generally, the fraudsters solicit investments in a cryptocurrency-related business, promise high returns in a short period of time and use the contributions of later investors to pay off earlier investors. At some point, the fraudsters stop making payments and abscond with their investors’ money. In the BitClub Network case, the defendants offered investors shares in cryptocurrency mining pools. Cryptocurrency mining is the process of verifyingRead More →