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Irba applies to appeal Sharemax disciplinary committee member recusal order

Former Sharemax auditors launch conditional cross-appeal of high court order.

Merwe , Limpopo , South-africa , Pretoria , Gauteng , Jabulani-nyathi , Lawtons-africa , Horton-griffiths , Jacques-andre , Wim-cilliers , Petrus-johannes-jacobus-bekker , Veronica-vurgarellis

Irba members in former Sharemax auditors case ordered to recuse themselves

High court sets aside decision by Irba disciplinary committee refusing their recusal.

Pretoria , Gauteng , South-africa , Merwe , Limpopo , Jacques-andre , Jabulani-nyathi , Brian-smith , Mike-maritz , Imre-nagy , Suren-sooklal , Kate-hofmeyr

Voortrekker Monument: Guard dog helps apprehend first suspect

Voortrekker Monument has added security measures after an increase in crime at the heritage site.

Pretoria , Gauteng , South-africa , Voortrekker-monument , Free-state , Tshwane , Limpopo , France , French , Mavela-masondo , Elias-vanekeni , Gerhard-pretorius

Irba: Former Sharemax auditors' review application 'incompetent' and 'premature'

High court application only likely to be heard in fourth quarter of 2022.

Merwe , Limpopo , South-africa , Horton-griffiths , Mike-maritz , Wim-cilliers , Jacques-andre , Suren-sooklal , Petrus-johannes-jacobus-bekker , Imre-nagy , Nova-property-group , Clyde-co

Former auditors of Sharemax lodge high court review application

Seek to set aside the Irba disciplinary hearing charge sheet and the recusal of two committee members.

Merwe , Limpopo , South-africa , Horton-griffiths , Mike-maritz , Petrus-johannes-jacobus-bekker , Wim-cilliers , Jacques-andre , Suren-sooklal , Anthea-platt , Imre-nagy , Clyde-co

Irba hearing against former Sharemax auditors set to continue

MONEYWEB
app instead?
Disciplinary committee chair dismisses application for recusals of two committee members.
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About 18 000 investors invested an estimated R5bn in Sharemax Investmentâs schemes. Image: Moneyweb
The Independent Regulatory Board for Auditors (Irba) disciplinary hearing against the three former auditors to the failed Sharemax Investments property syndication schemes is set to continue.
This follows a decision by Advocate Anthea Platt, chair of the disciplinary hearing, dismissing an application by Advocate Mike Maritz, appearing for the three auditors, for the recusal of Suren Sooklal and Horton Griffiths, two members of the disciplinary hearing committee.
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Merwe , Limpopo , South-africa , Horton-griffiths , Harvey-wainer , Mike-maritz , Petrus-johannes-jacobusbekker , Jacques-andre , Anthea-platt , Brian-smith , Imre-nagy , Audit-solutions-incorporated

Advocate for former Sharemax auditors claims case is 'a nullity'

MONEYWEB
Says it could be an exercise in futility to continue with the matter.
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Mike Maritz has raised questions about the independence of the independent regulatory boardâs disciplinary committee members. Image: Shutterstock
The actual or perceived bias of two members of the Independent Regulatory Board for Auditors (Irba) disciplinary committee in the disciplinary hearing against three former auditors of Sharemax has made the case a nullity, argued advocate Mike Maritz.
A nullity in law is defined as something which may be treated as if it did not exist or never happened.
Maritz, who is appearing for Jacques Andre van der Merwe, Danie Dreyer and Petrus Johannes Jacobus Bekker, said this during an application this week for the recusal of Sorenzo Sooklal and Horton Griffiths, two members of the disciplinary committee hearing the case.

Merwe , Limpopo , South-africa , Harvey-wainer , Horton-griffiths , Sorenzo-sooklal , Mike-maritz , Jacques-andre , Brian-smith , Petrus-johannes-jacobus-bekker , Audit-solutions-incorporated , Independent-regulatory-board

Sharemax was not a Ponzi or pyramid scheme – attorney

MONEYWEB
‘In the way it was constructed, there was always value.’
00:01
Image: Shutterstock
Weavind & Weavind director Eckaard Le Roux, the attorney for Sharemax, has refuted suggestions that the property syndication company was a Ponzi or pyramid scheme.
Giving evidence during an Independent Regulatory Board for Auditors (Irba) disciplinary hearing against the former auditors of Sharemax this week, Le Roux said media reports claimed that what Sharemax was doing was in contravention of the Banks Act.
âIt was unlawful, it was illegal. Some reports even went as far as saying it was a Ponzi scheme. I donât think [that] is correct.

Merwe , Limpopo , South-africa , Le-roux , Kate-hofmeyr , Eckaard-le-roux , Weavind , Jacques-andre , Petrus-johannes-jacobus-bekker , Consumer-affairs-unfair-business-practices , Law-society , Sa-reserve-bank

Irba expert witness questioned at Sharemax disciplinary hearing – The Citizen

Roy Cokayne
A view of the interior of the half-built Villa Retail Park in Pretoria. Image: Moneyweb
The independence of an expert witness has been brought into question at an Independent Regulatory Board for Auditors (Irba) disciplinary hearing against the former auditors of the failed Sharemax property syndication scheme. This follows Brian Smith, who has 45 years’ experience in the accounting field and is Irba’s expert witness in the case, confirming last week that he was a member of Irba’s investigation committee from 2004 until 2016 and chair of this committee from 2011 until 2016. Smith further admitted that during the time he chaired this committee, it concluded the investigations into the conduct of the three audit...

South-africa , Merwe , Limpopo , Petrus-johannes-jacobus , Mike-maritz , Jacques-andre , Brian-smith , Audit-solutions-incorporated , Independent-regulatory-board , Danie-dreyer , Petrus-johannes , Solutions-incorporated

Reserve Bank issued directives against Sharemax in 2010

MONEYWEB
Despite being warned of the disastrous consequences for investors.
00:01
The abandoned Villa Retail Park development in Pretoria. Its prospectus was issued after the launch of a Sarb investigation into Sharemax in 2007. Image: Moneyweb
The South African Reserve Bank (Sarb) issued directives against Sharemax in 2010 despite a warning by a senior advocate about the disastrous financial consequences âan over hasty approachâ could have for investors because urgent high court winding-up applications were pending against the failed property syndication company.
This was confirmed by former Sarb deputy registrar of banks Michael Blackbeard on Monday during the Independent Regulatory Board for Auditors (Irba) disciplinary hearing against the former auditors of Sharemax.

Pietermaritzburg , Kwazulu-natal , South-africa , Merwe , Limpopo , Kwazulu , Eastern-cape , Natal , Eckaard-le-roux , Mike-maritz , Johan-ploos-van-amstel , Weavind