FirstRand Wealthy clients to be "named and shamed"

Similar to the health minister: yes, they have an expectation to privacy, but again the public's right to know should trump that.
 
NameOfBeast said:
Here is an excerpt from the August edition (which is freely available at the moment):
http://www.noseweek.co.za/article.php?current_article=1495

The full details of the scheme (very interesting) are in the September issue of Noseweek. I have a print subscription only, so can't help (and no, I'm not typing it all in :D).

Not an invasion of privacy at all. They committed what amounts to a serious act of tax evasion with the connivance of some of the most senior bankers in the country. String 'em high (bankers and clients).
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I'm not willing to sign up just for this story, so could you provide some highlights as to how it is done?

As for the privacy thing, they are alleged (there is that word again), so until they are found guilty is it not an invasion that also defames them at the same time?
 
You have to admit it, they FirstRand really do mean it when they say "How can we help you". They will even help you break the law. :D
 
sox63 said:
As for the privacy thing, they are alleged (there is that word again), so until they are found guilty is it not an invasion that also defames them at the same time?
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Yep. That is the risk that the newspapers take.
 
"Farrel added that Noseweek neglected to publish certain facts." - whoever said the media was wholely objective?

Quoting out of context or neglecting facts is not a criminal offence, though. Its just journalism.
 
sox63 said:
http://www.iol.co.za/index.php?set_id=1&click_id=13&art_id=vn20070919062326855C314721

From what I read in that article, Noseweek got the list in an improper way. But if I were to guess, Spitz probably leaked the documents to Noseweek. Either way they should not be publishing the list.

The comparisons between how Noseweek and Sunday Times go about getting info are scary.
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ROFL
It really doesnt matter now if the list is or is not published. I am sure SARS will be asking all sorts of questions of FirstRand and their top clients.
The truth will out, if not through Noseweek then through other channels. Free press is a bitch.
;)
 
Sneeky said:
ROFL
It really doesnt matter now if the list is or is not published. I am sure SARS will be asking all sorts of questions of FirstRand and their top clients.
The truth will out, if not through Noseweek then through other channels. Free press is a bitch.
;)
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LOL. True. Whats the lesson learnt? Never pi$$ off an editor of a major publication! :D
 
They should be named and shamed, and they should be prosecuted for fraud.
 
sox63 said:
http://www.iol.co.za/index.php?set_id=1&click_id=13&art_id=vn20070919062326855C314721

From what I read in that article, Noseweek got the list in an improper way. But if I were to guess, Spitz probably leaked the documents to Noseweek. Either way they should not be publishing the list.

The comparisons between how Noseweek and Sunday Times go about getting info are scary.
Click to expand...

Why should anyone ever be annoyed if the truth comes out?

If I hear from your domestic that everything is not all kosher at your place, should I still send my children there because I got hold of the information the way noseweek and ST get their information.? Don't be daft!

These people ST and noseweek found out about are scumbags and should be exposed.
 
The judgement is due tomorrow morning (Thursday, 20 September).

http://www.mg.co.za/articlePage.aspx?articleid=319759&area=/breaking_news/breaking_news__national/

Noseweek editor Martin Welz, who represented himself in court on Wednesday after his attorneys realised they were contracted to FirstRand, has been running articles on the "FirstRand pirates", as he calls the scheme's administrators, since June.

He told Traverso FirstRand's attitude had been not how it should comply with tax law, but rather how to avoid compliance in a way that was too clever to be detected.
Click to expand...
 
If this tax "evasion" scheme is legal then they have nothing to fear otherwise they must walk the plank.
 
tibby.dude said:
If this tax "evasion" scheme is legal then they have nothing to fear otherwise they must walk the plank.
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Yip, its one of those things, death and taxes, and you have a better chance of escaping death.

If you used illegal means, then you have to pay the piper he's due
 
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