SOUTH AFRICA - Actuary Peter Ghavalas and six accomplices have been charged with defrauding R213m (US$34m) from pension funds over an eight year period, the Financial Services Board (FSB) announced today.
Ghavalas was allegedly the architect behind the laundering of a number of schemes and received substantial dividends amounting to R40m for the period 1992 - 1997 through his company Soundprops 178....
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