Former Khulubuse Zuma business associate found in contempt of court

Sikhumbuzo Shamase, one-time business associate of Khulubuse Zuma, the nephew of former president Jacob Zuma, has been found in contempt of court for failing to hand over two vehicles after Standard Bank obtained summary judgment in 2017. The two were partners in a company called Sham-Mok Investments that got suckered out of R50 million in 2013 when buying gold bars in Guinea that turned out to be fake.

On 24 June 2022, Standard Bank launched contempt of court proceedings against the Shamases, who indicated their intention to oppose the matter. The following month the Glenvista property was sold for R2.85 million, which went to settle a home loan of R3.4 million. Answering affidavit In October 2022, the Shamases filed an answering affidavit in the contempt case and a recission of the previous order won by the bank in the Pretoria High Court.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former Khulubuse Zuma business associate found in contempt of court | The Citizen⚖️Khulubuse Zuma's former business associate has been found in contempt of court for failing to hand over two vehicles to Standard Bank🚔🏦💶 TheCitizenNews StandardBank crimeinsa corruption Catch up on the story⬇️
Source: TheCitizen_News - 🏆 6. / 75 Read more »

'Stolen money': Zuma must pay back millions in legal fees funded by Louis Liebenberg - inquiry | BusinessFormer president Jacob Zuma must pay back the millions of rands his legal team received from outspoken Gauteng diamond dealer Louis Liebenberg, an insolvency inquiry has found. | JanTamb News24_Business
Source: News24 - 🏆 4. / 80 Read more »