China Issues Bounty for Hong Kong Dissident Chloe Cheung

A recent investigation by the South African Reserve Bank has unveiled a significant money laundering scheme involving Ahmed Bhorat, known as 'Bullshit Bertie', who sought to provide information on an ongoing probe dubbed Project X-Ray. This scheme allegedly funneled around R700-million to Hong Kong through 26 entities, primarily fake companies, between late 2016 and mid-2017. Bhorat, facing financial ruin due to a R46-million tax bill, has been accused of non-cooperation with trustees of his insolvent estate and has a history of legal troubles related to fraudulent activities. Additionally, the South African Reserve Bank is in a legal dispute to seize funds from Bhorat's accounts due to exchange control violations, as the trustees aim to allocate these funds to creditors, primarily the South African Revenue Service. The case highlights the ongoing challenges in monitoring and regulating financial crime within South Africa's banking sector.