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PODCAST | EXPLAINER: The legal questions Ramaphosa must answer
What was his obligation? What if it is true that he paid the thieves to keep quiet? Prof Pierre de Vos clears the air
University of Cape Town’s Prof Pierre de Vos joined Eusebius to explain the central legal terms in the allegations made against President Cyril Ramaphosa by former spy boss Arthur Fraser.
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De Vos explained the different elements of the Reserve Bank’s currency and exchanges guidelines, which must be read in conjunction with the Currency and Exchanges Act 9 of 1993. These set up several obligations with which a businessperson who gets US dollars from their clients or customers must comply. The factual investigation under way in the Ramaphosa matter should aim to determine whether there was in fact compliance. Failure to comply, explained De Vos, is a criminal offence with penalties that include a maximum fine of R250,000 or imprisonment not exceeding five years...
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