By:
On:
In: News and Info

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 →

By:
On:
In: latestnews, News and Info

There has been some confusion as to the charge of THEFT BY FALSE PRETENCE. I personally accepted that the said offence forms part of what we collectively referred to as Commercial crimes, being fraud, forgery, uttering, theft by false pretences, theft and corruption. During investigations whereby I could identify the named crime, SAPD will refuse to accept such allegation and would confirm that any case with an identified offence involving theft by false pretences must be referred to as fraud. Should the prosecutor decide to prosecute, it will be prosecuted as fraud, and should the prosecutor decide not to prosecute, a civil claim could beRead More →

By:
On:
In: News and Info

Original article by John Rotondi, Port Washington NY, 516 944 8880 and re-posted with his permission. On August 28, 2017, the SEC issued “Investor Alert: Public Companies Making ICO-Related Claims” (https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_icorelatedclaims). Fraudsters behind public companies are claiming that those companies are associated with, or engaging in, an initial coin offering (ICO). These false claims are being made so as to manipulate the company’s stock in a “pump and dump” scheme. Fraudsters follow current news closely, and will use these events in their pitch. For example, a popular investment scheme in the 1960s was mining for gold in the sea. SEALAB, an experimental underwater habitat developed byRead More →

By:
On:
In: News and Info

The essence of constructive dismissal is that the relationship between the employee and employer has become so intolerable that the employee has no other option but to leave employment with the employer. In terms of our law, an employee generally has to prove the following aspects to show that he was constructively dismissed: The employment circumstances were so intolerable that the employee could not continue to remain in employment. The intolerable circumstances were the reason for the employee’s resignation. There existed no other reasonable alternative for the employee but to resign in order to escape the intolerable circumstances. The intolerable circumstances were caused by theRead More →

By:
On:
In: News and Info

The need for greater and more stringent security measures in the business environment, has seen the introduction of sophisticated control and security systems. These systems increasingly make use of biometric information such as fingerprinting, blood typing, voice recognition, retinal scanning etc. as unique personal identifiers allowing access to/egress from physical locations, programmes, systems or networks. For an employer to implement such control measures, biometric information must be collected from employees, raising the question as to whether employees can be forced to provide biometric information, under which circumstances and for what purposes. Biometric information refers to measurable personal physical characteristics that can be subjected to authenticationRead More →

By:
On:
In: News and Info

“I was recently fired as a manager of a retail company. The company held me responsible for stock theft that happened under my watch, claiming that I was negligent in my duties. I was asked to leave without any warnings or a disciplinary hearing. Surely, I should at least have had a chance to give my side of the story.” You are correct. In terms of our labour legislation, an employer cannot just dismiss you without a fair disciplinary hearing. Generally, employees can be dismissed for one of three reasons, namely misconduct, incapacity and operational requirements. In your case, the dismissal is for alleged misconduct.Read More →

By:
On:
In: News and Info

The Guptas used an international network of scrap metal dealers to launder hundreds of millions in kickbacks between China, India, the UAE and South Africa. We introduce them. By AMABHUNGANE and SCORPIO. It must have been good news for Piyoosh Goyal when the State Bank of India approved his Rs750-million (Indian Rupees, then worth R120-million) loan. So good that he then sent his agent to a senior banker’s Mumbai home on a Sunday with two expensive watches and a fistful of cash. At least, this is what the Mumbai branch of the Central Bureau of Investigation (CBI) later claimed. The CBI’s anti-corruption investigators had lainRead More →