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BLF charges 18 banks for fraud, theft and corruption

By BO Staff Writer

On 29 July 2017 BLF charged the following 18 banks for various offences including collusion, corruption, theft, fraud and money laundering relating to price fixing and the division of the markets: Accused 1: Bank of America Merrill Lynch International Limited (Bank of America); Accused 2: BNP Paribas; Accused 3: JP Morgan Chase & Co (JP Morgan); Accused 4: JP Morgan Chase Bank N.A (JP Morgan N.A); Accused 5: Australia and New Zealand Banking Group Limited (ANZ); Accused 6: Standard Securities New York Inc (Standard New York); Accused 7: Investec Limited (Investec); Accused 8: Standard Bank of South Africa Limited (Standard Bank); Accused 9: Nomura International plc (Nomura); Accused 10: Standard Chartered Bank (Standard Chartered); Accused 11: Credit Suisse Group (Credit Suisse); Accused 12: Commerzbank AG (Commerzbank); Accused 13: Macquarie Bank Limited (Macquarie); Accused 14: HSBC Bank plc (HSBC); Accused 15: Citibank N.A (Citibank); Accused 16: ABSA Bank Limited (ABSA); Accused 17: Barclays Capital Inc (Barclays Capital); and Accused 18: Barclays Bank plc (Barclays). Black Opinion is now republishing the following article that first appeared on the Black First Land First website on 29 July 2017:

BLF has today opened a criminal case (case number: 916/07/2017) at the Hillbrow Police Station in Johannesburg against 18 banks who have been involved in illegal activities including fraud, money laundering, theft, corruption and collusion. These 18 banks – including ABSA; Standard Bank; Investec; and major international banks such as Barclays and J.P Morgan – have contravened the Prevention and Combating of Corrupt Activities Act 12 of 2004 amongst other laws dealing with criminal conduct.

The above banks have already been found to have engaged in criminal activities by the Competition Commission which has recommended that the guilty banks pay the maximum fine provided for by the Competition Act which is 10% of the annual turnover for the last year of transgression. BLF has informed the Competition Commission about the steps it is going to take to bring the above banks to book for their criminal actions – we have indicated that we will be preferring criminal charges against the banks.

These banks have been involved in various criminal activities from at least 2007 up to the end of 2015. BLF believes that the banks have not stopped any of their criminal activities – they continue with impunity. It is time that we stopped them!

The banks, which are named in the BLF statement submitted to the police, are essentially busy with theft from the poor because of the impact their criminal activities have had on the entire economy. Manipulation of the currency in December 2015 so as to force President Zuma to hire Pravin Gordhan as Minister of Finance cost the country R500 billion in two days. This is massive corruption that has been swept under the table by the white owned media.


Today’s case will kick-start a process to end the corruption of white monopoly capital. BLF calls on ABSA to cooperate with the police and in this regard, turn state witness as it did with the Competition Commission investigations. ABSA must tell the police the truth about the corruption it has been party to.

BLF shall monitor the criminal case against the 18 banks opened today. We will ensure that it is fully investigated and that the truth is exposed.

Issued by the National Coordinating Committee of Black First Land First (BLF NCC)

29 July 2017

Black First Land First Email: [email protected]
Facebook: Black First Land First
Twitter: @black1stland1st
Website: www.blf.org.za

Zanele Lwana
(National Spokesperson)
Cell: +27799867225

Lindsay Maasdorp
(National Spokesperson)
Cell: +27 79 915 2957

Brian Tloubatla
(Deputy National Spokesperson)
Cell: +27 82 216 7664

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