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Serial fraudster J Arthur Brown’s former attorney fined R200,000

Publish date: 14 June 2019
Issue Number: 75
Diary: CompliNEWS
Category: Enforcement

Serial fraudster J Arthur Brown’s former attorney has escaped with a R200 000 fine after being convicted of tax fraud. Muhammed Rashad Khan (70) pleaded guilty to 468 charges of tax fraud. During sentencing, the court said Khan’s crimes were serious as they undermine SARS, but his personal circumstances should also be taken into account, notes Netwerk 24. He is the father of three adult children and three minors. Khan failed to submit several tax returns between 2006 and 2018. He didn’t file VAT returns between 2006 and 2015, didn’t pay over the PAYE deductions from his employees, didn’t file personal income tax returns and failed to pay over UIF contributions on behalf of his employees.

Full Netwerk24 article (subscription required)

Working Smart

By Lee Rossini

Identifying and focussing on certain niche markets offers opportunities for financial advisers willing to delve deeper into specialised segments. But what are niche markets, and what role can they play in a financial advice business? At its core, a niche market refers to a subset of a larger market with its own distinct needs, preferences, and demands. These markets are often characterised by their specificity, catering to a particular demographic, industry, or interest group. While mainstream markets target broader audiences, niche markets focus on serving a more specialised clientele.