DA MP Mark Burke Under Fire as Kastelo Faces R4bn Reserve Bank Probe
The bank says Kastelo used clients’ allowances and offshore accounts without their knowledge while a court kept its funds frozen.
6 Articles
6 Articles
DA MP Mark Burke under fire as Kastelo faces R4bn Reserve Bank probe
DA MP Mark Burke faces calls for removal from Parliament’s finance committees following allegations that fintech company Kastelo was involved in exchange-control contraventions involving about R4 billion.
Fresh scandal hits South Africa’s Democratic Alliance
South Africa’s central bank is investigating a fintech firm co-founded and chaired by a senior official in the coalition government’s second-largest party over alleged exchange control violations involving a $220 million offshore transfer. The inquiry into Kastelo, the company founded by the Democratic Alliance’s head of finance Mark Burke, threatens to further tarnish the party’s clean governance brand after its former leader accused a lobbying…
SARB probes DA's Burke over R4B crypto transfers
The South African Reserve Bank is investigating Kastelo, a fintech and cryptocurrency arbitrage trading company founded by Democratic Alliance federal finance chairperson Mark Burke, over alleged exchange-control contraventions involving approximately R4 billion ($246 million), after the Johannesburg High Court dismissed the company's bid to have its frozen bank accounts unfrozen.Acting Judge S. Johnson dismissed Kastelo's application and ordere…
ANC wants DA finance chief out of Parliament committees over R4bn allegations - Inside Politics
By Thapelo Molefe The African National Congress (ANC) Parliamentary Caucus has called for Democratic Alliance (DA) Federal Finance Chair Mark Burke to be removed from Parliament’s finance oversight committees, saying his continued participation is untenable while the South African Reserve Bank investigates allegations involving about R4 billion linked to a fintech company he founded. The call follows allegations contained in a Reserve Bank affid…
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