EDITORIAL: South Africa’s white-collar fraud misfire
Prosecution rate is sadly lacking and NPA head’s arguments to the contrary are unconvincing
For South Africa’s prosecuting authorities, used to operating in something approaching geological time, the conviction of Sam Bankman-Fried for fraud relating to a failed crypto exchange must have seemed like a “blink and you’ll miss it” event.
Last week, Bankman-Fried was found guilty on seven counts of fraud related to the collapse of crypto exchange FTX, once one of the most trusted names in digital assets. Bankman-Fried formed FTX only in 2019, and his wealth soared to $23bn at one point...
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