June 18, 2021

AFU seizes KZN property, aircraft and vehicles

The National Prosecuting Authority’s (NPA) Asset Forfeiture Unit (AFU) has obtained a forfeiture order in the Pietermaritzburg High Court, to seize several immovable properties and vehicles valued at R106m, belonging to Coinit Trading (Pty) Ltd and other liquidated businesses.

The asset seizure order was granted in connection with the firm’s alleged contravention of the Financial Advisory and Intermediary Services Act 37 of 2002 and the Banks Act 94 of 1990. 

The latest order follows an earlier preservation order that was granted in November 2020 to freeze the company’s assets.

National Prosecuting Authority spokesperson Natasha…

Read full article here: www.thesouthafrican.com