South Africa
Old Mutual in court bid to block CEO reinstatement
Urgent application filed at Johannesburg high court
South Africa regulator suspends advice firm’s licence
After the police arrested the owner of the business in July
Court reinstates sacked Old Mutual boss
But the insurer moves swiftly to block his return
South African financial adviser arrested for fraud
He reportedly encouraged clients to put money into unregulated investments with ZAR100m potentially lost
Wealth report glosses over South Africa’s growing wealth gap
It says average person has net assets worth $11,500 – but reality begs to differ