Directors Duties and Liabilities in RSA

[Lawyer Destroyer]

An interesting victim of the Dr DS Grieve fraud/Ponzi scheme has surfaced. I was recently steered to this site which hosts an "In Memory Of" page for well known military and aviation old boyshttp://www.flyafrica.info/forums/sho...ourie-HC/page2

It seems in addition to others Dr DS Grieve defrauded the surviving family of the late Colonel Dawie Fourie Honoris Crux, Special Forces AFTER he died and Dr DS Grieve and his wife Sanet Grieve (Botha) had convinced them to part with their legacy and inheritance.
Dr DS Grieve had solicited substantial funds in August 2009, just before liquidating in December 2009. As if this family did not have enough misfortune and emotional drama to deal with.

There is some very interesting information on this page worth looking at.......

Is that the ominous clank of jail cell doors I hear in the background......I will never understand the crookedness and dishonest of a well paid professional.

[Lawyer Destroyer]

The head of the South African Corporate Fraud Management Institute has made a formal submission to the SAPS concerning this matter. Mr Bart Henderson of Cape Town whose recent assignments include delivering anti-money laundering training to the Zimbabwe Revenue Authority on contract to the Australian Government Aid Program (AusAid) and a previously completed contract to investigate fraud and corruption in the procurement process of the South African Companies and Intellectual Property Commission on behalf of the Department of Trade and Industry stated in his formal submission to the SAPS that he has an intimate familiarity with all the documents, statements, investigations (civil and criminal) and legal proceedings in South Africa in relation to the matter of Dr DS Grieve Bridging Solutions (Pty) Ltd. He has stated additionally that:-

.../

13. "It is my view that Dr DS Grieve with willful intent, made a material representation in the form of a significant omission, with intent to deceive….

14. It is also my contention that the entire prejudice suffered in this scam between local and transnational victims exceeds US$ 5 million.

15. I also suspect based on convincing evidence and representations, that the scam involves numerous parties operating in concert and that this particular scam meets the requirements of the definitions of Fraud, Embezzlement, Organized and Trans National Crime involving the laundering of the proceeds of crime". /...

based on the statement of this national fraud expert alone, a prima-facie case of fraud is substantiated for the SAPS investigation. Mr. Ron McQuilter of Paragon Private Investigations NZ, Justice of The Peace, CFE, International Fraud Expert and accepted High Court expert on fraud has added his opinion to the melee calling in a public statement to the head of the SAPS CCU in writing for the immediate criminal prosecution of Dr DS Grieve by the SAPS CCU and the NPA.

That, combined with almost 28000 views of this thread, front page headlines in Die Beeld and what can only be termed a public outcry on the internet, leaves no doubts that there is good cause for the creditors who have cried foul and fraud. The absence of comment by Dr DS Grieve is a tacit admission as to his actions in the lead up to liquidation proceedings. The facts that have surfaced show that the entire liquidation was caused by the intentional actions of the Director who purposefully placed the business he was charged with directing an running into distress and insolvency by removing all the operating capital belonging to investors and creditors to his private accounts, an act described by Bart Henderson as fraud and embezzlement.

[Dave A]

The facts that have surfaced show that the entire liquidation was caused by the intentional actions of the Director who purposefully placed the business he was charged with directing an running into distress and insolvency by removing all the operating capital belonging to investors and creditors to his private accounts[/B]

Well now, that is quite clearly where the rubber would meet the road.
There is hard evidence of this? Or is this merely alleged?

[Lawyer Destroyer]

Based on exact hard evidence - the actual bank statements of the business accounts for Dr DS Grieve Bridging Solutions Pty Ltd as seen personally by me. These show transfer after transfer of bulk investors funds to Dr DS Grieve "private" account with Standard Bank, never to be seen by the investors or business again. Clank clank, mandatory sentencing for fraud over R1 million is 15 years in jail.

[flaker]

Our local papers (Durban) still dwell on Shaikh, who had only a "symbiotic relationship",as opposed to corrupt,with our now president. Why is this Grieve saga taking so long to get to the courts?

[Lawyer Destroyer]

As they say in the classics - he can fool all of the people some of the time, but not all of the people all of the time....there are a finite number of straws that can be held up to the wind....

[Dave A]

Why is this Grieve saga taking so long to get to the courts?

From the information I've got to hand, I'd guess there is a concern about the admissability of those banks statements as evidence before a court of law. (For the record, no-one has said as much to me. But - explaining exactly how those statements got from the office of the company to other parties does seem problematic).

And then even if the bank statements are allowed as evidence - banks statements reflect the movement of monies, but they don't reflect the purpose.

[Lawyer Destroyer]

All evidence correctly obtained under sec 417 and 418 of the act. All further corroborative evidence obtained legally too. All evidence will stand up to admissibility testing. All good and by the book. Clank clank....

[Dave A]

All evidence correctly obtained under sec 417 and 418 of the act.

Of which act?

[Lawyer Destroyer]

Of which act?

Companies Act, 1973, (No. 61 of 1973)
Chapter XIV: Winding-up of Companies
Examination of Persons in Winding-up
417. Summoning and examination of persons as to affairs of company