Dewald van Rensburg

Gauteng, South Africa

Reporter at City Press

Freelance Writer at Freelance

Reporter, City Press

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Articles

Scam Empire (Part Three): Money in, money out

1 week ago | dailymaverick.co.za | Dewald van Rensburg

In our previous instalments, we revealed a massive international syndicate operating online trading platform ‘scams’ and the characters running a distinct South African division hiding in plain sight behind the country’s regulatory regime. Now we turn to the money, specifically the Byzantine financial arrangements set up to collect and disperse would-be ‘traders’ investments.
amaBhungane | Scam Empire Part 3: Money in, money out

1 month ago | brnw.ch | Dewald van Rensburg

Parts One and Two of amaBhungane's investigation into an international syndicate running online trading scams revealed the characters and tricks of the trade of this shadowy "industry". These "trading" platforms face constant pressure to lock in "payment service providers" to collect deposits from aspiring traders and shovel them up the food chain.
Scam Empire Part Two: Behind the veil of global online trading ‘scams’

1 month ago | dailymaverick.co.za | Dewald van Rensburg

AMABHUNGANE In our previous instalment, we revealed an international syndicate running online trading ‘scams’ worldwide that had a prominent presence in South Africa. Now we turn to the ‘back office’ running the special South African division – the lawyers, fixers and other service providers that make the whole thing tick.
Scam Empire — Inside the dark heart of a multinational investment scam (Part One)

1 month ago | dailymaverick.co.za | Dewald van Rensburg

AMABHUNGANE A data leak has unmasked a global network of alleged professional scammers drawing would-be investors into dodgy trading platforms on an industrial scale. A group of South Africans features in parts of the business — and the South African public is prominent among the victims. A little-known Bulgarian entrepreneur named Boris Kodzhov has, since 2023, quietly made mammoth strides in the South African fintech sector. Don't want to see this?
#TheLaundry: the bullshit artist, the fuel traders and the Hong Kong front army

2 months ago | dailymaverick.co.za | Dewald van Rensburg

AMABHUNGANE SARS and the Reserve Bank’s pursuit of a local illicit money moving veteran – a man known as “Bullshit Bertie” – has lifted the lid on a pair of prolific fuel traders who allegedly arranged for millions of rands to be siphoned out of SA to Hong Kong and Turkey. SARS and the Reserve Bank’s pursuit of a local illicit money moving veteran has lifted the lid on a pair of prolific fuel traders who allegedly arranged for millions of rands to be siphoned out of SA.
#TheLaundry: Sasfin Bank’s snake pit

Dec 18, 2024 | amabhungane.org | Dewald van Rensburg

This year, Sasfin Bank seemingly declared defeat after a series of scandalous revelations about the deep rot in its foreign exchange business. Facing a multi-billion rand damages claim from SARS for allegedly facilitating what appears to have been rampant money laundering, the bank first announced that it would remove itself from the Johannesburg Stock Exchange and then that it would simply stop being a bank altogether.
#TheLaundry: From government contracts to a laundry web

Dec 11, 2024 | amabhungane.org | Dewald van Rensburg

In the course of the Covid-19 pandemic the South African government went large on emergency contracts for everything from masks and hand sanitiser to makeshift housing and hospital beds. The Special Investigating Unit (SIU) was later tasked with sifting through thousands of contracts to find irregular, unlawful or fraudulent deals. It found thousands, which it summarised in a doorstopper December 2021 final report to the President.
The #Laundry: Shadow Banks (Part Three) — cleaning State Capture cash

Nov 17, 2024 | dailymaverick.co.za | Dewald van Rensburg

AMABHUNGANE In our previous instalments we delved into RENS Kontant in Transito — one of the cash-in-transit companies seemingly acting as a conduit for moving funds for a broad and exotic clientele. Looking even deeper, we managed to find what may have been a previously unknown route for the dissipation of State Capture loot. The Gupta family and the sprawling network of fixers that coalesced around them did South Africa one favour. Don't want to see this?
amaBhungane | The #Laundry: Shadow banks Part Two – Christo and Kotie | Business

Nov 3, 2024 | news24.com | Dewald van Rensburg

Johannesburg's "shadow banks" are cash-in-transit companies that in practice can also be used as wholesale clearing houses for illicit money flows, while seemingly asking very few questions. For more financial news, go to the News24 Business front page. Recap: Up until now amaBhungane's series on money laundering has focused on the network around alleged money launderer Howie Baker, gold trader Andries Greyvensteyn and tobacco mogul Simon Rudland.
amaBhungane | The #Laundry: Shadow banks, part 1 – Phantom gold | Business

Oct 27, 2024 | news24.com | Dewald van Rensburg

At least R4.5 billion was seemingly channelled to a single Dubai entity, largely by players in the gold and tobacco industries. Part of this appeared to involve a bizarre scheme of circular money flows based on fictitious gold trading, which, barring an innocent explanation, could signify a truly audacious VAT scam. For more financial news, go to the News24 Business front page.