The criminal mastermind who was fined R197 million for selling a product that does not exist

[Bianke Neethling]

The criminal mastermind who was fined R197 million for selling a product that does not exist

Jacobus Meyer and his company, Medbond Insurance Brokers, were fined R197 million for selling a fixed-term group variable annuity product that did not exist.

 

[Baise]

Churches do it all the time ..

 

[Bad Ballie]

Always the same character profiles involved in these scheme's

 

[airborne]

They say "fined" but who is paying the fine and why isn't anyone going to jail?

 

[Okty]

Primary profit from selling these fake packages ~ 500 mil.
Fine ~ 200 mil.
Secondary profit ~ 300 mil.

Meyer:

 

[Bad Ballie]

They say "fined" but who is paying the fine and why isn't anyone going to jail?

Sounds like a "give back the money and say sorry" scenario with stern look included, I am sure. Crime in the old boy's clubs seem to pay very well.