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IOL News
6 days ago
- Business
- IOL News
Jailed for two decades: How Larrisa Vern stole R2. 8 million from Delmas Primary School
Former Delmas Primary School financial officer, Larrisa Vern, has been sentenced to 25 years behind bars after she was convicted on charges of fraud and money laundering. Image: Hawks The Delmas Regional Court has sentenced 52-year-old former Delmas Primary School financial officer, Larrisa Vern, to 20 years behind bars after she was convicted on charges of fraud and money laundering. 'This came after the Hawks Secunda-based serious commercial crime investigation (unit), priority crime specialised investigation (unit), Hawks asset forfeiture investigation (unit), and National Prosecuting Authority proved criminal activities against Vern,' said Mpumalanga spokesperson for the Hawks, Lieutenant Colonel Magonseni Nkosi. Vern was appointed to her position at the school in December 2021 and assumed her duties in January 2022. 'In less than two years, her criminal activities were exposed after a whistleblower notified the authorities regarding two bonus payments made by her to her bank account,' said Nkosi. The matter was referred to the Hawks for investigation. Get your news on the go, click here to join the IOL News WhatsApp channel. The team of investigators managed to secure a warrant of arrest on 6 February 2024. Vern was arrested three days later, on 9 February 2024. 'Investigation continued, and more dirty linen was uncovered as it was established that Vern caused an actual loss of R2,792,912 to the school,' said Nkosi. Vern paid money to four different bank accounts using different references before transferring the money to her main account. In court, the state successfully proved 94 counts of fraud and 555 counts of money laundering. Vern pleaded guilty on all charges before the Delmas Regional Court on 21 May 2025. 'Vern was sentenced to 15 years' imprisonment for fraud, of which five years is suspended for five years on the condition that she is not involved in fraudulent activities during the time of suspension. She was further sentenced to 10 years imprisonment for money laundering,' said Nkosi. The court ruled that both sentences will run concurrently. Vern is expected back in court on 5 June 2025 to allow the Asset Forfeiture Unit to present its case. Meanwhile, provincial head of the Hawks in Mpumalanga, Major General Nico Gerber has commended the team of investigators and the prosecution team for the 'excellent manner in which they dealt with the case'. 'The next step is to seize the proceeds she accumulated through her criminal activities. Gone are the days that you can benefit from your criminal deeds,' said Gerber. In 2023, a Limpopo woman was arrested by the Hawks on allegations of stealing R1.5 million from her employer, the Thabazimbi Christian School. At the time, provincial spokesperson of the Hawks in Limpopo, Lieutenant-Colonel Matimba Maluleke said Pretorius was arrested by the Limpopo Hawks serious commercial crime investigation unit for allegedly embezzling R1.5 million from the Thabazimbi Christian School. [email protected] IOL News
Time of India
19-05-2025
- Business
- Time of India
Two arrested in city for T'gana money scam case
Patna: A joint team of crime investigation department (CID) of Telangana and state police arrested two more people on Sunday in connection with an investment fraud case, in which about 4,000 depositors were allegedly duped of Rs 792 crore by a private company. The accused, hailing from Bhojpur, were identified as Sushma Raj and Rabindra Prasad Singh. The police recovered Rs 8.30 lakh, six passports, 10 cellphones, 21 credit cards, three passbooks, 16 ID cards, eight watches, and 10 gold and diamond jewellery from the accused. Prashant Kumar Bhardwaj, SHO of Danapur police station, said the company duped thousands of investors across the country. "The company collected money from people by luring them with up to 24% return on investment. Initially, the company gave returns, but stopped payments from Jan 2025. On Feb 10, the company suddenly closed its office in Telangana," he said. "A case was registered in Telangana on Feb 11. Sushma and her associate Singh were arrested from an apartment in Danapur. Both the accused are residents of Tenduni village in Bhojpur district. The arrested accused have been handed over to Telangana police after completing legal proceedings. Further investigation will be conducted by them," the SHO said.
Yahoo
18-05-2025
- Sport
- Yahoo
Dodgers release veteran utilityman Chris Taylor, ending 10 seasons with team
Chris Taylor is getting squeezed out in the Los Angeles Dodgers' roster crunch. The 12-year veteran has been released, which was announced by the team on Sunday. The move creates room on the Dodgers' active roster for Tommy Edman, who was activated for Sunday's game versus the Los Angeles Angels. Edman, who has eight home runs and an .818 OPS this season, has been on the injured list since April 30 due to an ankle injury. Moving Taylor off the roster allows the Dodgers to avoid sending Hyeseong Kim back to the minors, letting him develop while playing major-league games. Kim isn't starting regularly, but in 14 appearances, he has compiled a .452/.485/.581 slash line with a home run, 5 RBI and 3 stolen bases. Taylor, 34, is the second longtime veteran the Dodgers have cut ties with in the past week. Catcher Austin Barnes, the team's longest-tenured position player, was moved off the roster Wednesday to clear a spot for top prospect Dalton Rushing. Taylor had the second-longest stay as a position player on the Dodgers' roster after Barnes. Thank you, CT3. — Los Angeles Dodgers (@Dodgers) May 18, 2025 In 10 seasons with the Dodgers, Taylor tallied a .250/.330/.431 average, but his true value came from his positional versatility. Taylor played all over the field, mostly at shortstop and center field but also left field, second base and third base. He was acquired from the Seattle Mariners in a 2016 midseason trade for pitcher Zach Lee. Most Dodgers fans would likely say Taylor's standout moment was his walk-off home run off the St. Louis Cardinals' Alex Reyes to win the 2021 National League wild-card game. He also shared 2021 NLCS MVP honors with Justin Turner, hitting .316 with a 1.248 OPS and two home runs. In eight postseasons, he hit a collective .247 with a .792 OPS, 13 doubles, 9 homers and 26 RBI. Taylor is still owed $12.75 million to finish the four-year, $60 million deal he signed with the Dodgers before the 2022 season. (That total includes a $4 million buyout from the 2026 club option in the deal.) Because he's being released, rather than designated for assignment, Taylor becomes a free agent immediately. More Dodgers moves could be coming with Teoscar Hernández set to return soon from a left groin strain. Hernández began a minor-league rehab assignment Saturday. James Outman will likely return to Triple-A Oklahoma City when Hernández is activated. Reliever Kirby Yates is also headed to the IL due to a right hamstring injury. Lou Trivino will be called up to take his spot. The Dodgers go into Sunday's MLB slate with a one-game lead over the San Diego Padres in the NL West, at 29-17.
Khaleej Times
29-04-2025
- Khaleej Times
Kerala rapper Vedan arrested after narcotics seized from his flat
Popular Malayalam rapper Hirandas Murali, better known as Vedan, was arrested after nearly six grams of narcotics was seized from his apartment at Vyttila in Tripunithura in Kerala on Monday, police said. "Narcotics was found in the flat and Rs 900,000 (Dh38,792) were also recovered," Circle Inspector AL Yesudas said. "Vedan said this money was the booking amount for an event. The Forest Department has also started an inquiry into his chain, (in which) leopard teeth has been used." Vedan allegedly admitted to using drugs, police said, adding there were a total of nine people in his flat. Vedan first gained prominence in June 2020 with the release of his first music video, Voice of the Voiceless, on YouTube.
Khaleej Times
25-04-2025
- Business
- Khaleej Times
Trump tariffs impact: Volatility in global markets soars amid tweets
Trump's tariffs, introduced on April 2, continue to rile the global markets, going from 2-3 per cent before April 2 to between 10 and 20 per cent today, and changing. In the April 13 article, I mentioned that this was not a Black Swan event (unknown unknown). Now, I am introducing a new term called Grey Rhino event, a highly probable threat that is visible, but ignored (known unknown). In this context, the only constant is heightened volatility caused by assertive US President Donald Trump's tweets (now it is Fed Chairman Jerome Powell's turn) — a deluge of ever-changing information on tariffs, Ukraine, Middle East, and many more geopolitical and economic indicators. Two thirds of S&P stocks are down 20 per cent from their highs and the index has gained or lost 1 per cent in seven of the last 10 sessions. For the first time, Wall Street is debating why 'sell US' is now taking hold among international investors. One stock captures the volatility based on the new US political order. Tesla has gone from $488 (Dh1,792) — Trump bump as Musk was announced head of Department of Government Efficiency — in December 2024 to $220 before a mini rise to $250. This highlights the impact of Musk's involvement with Trump and shows the impact of mixing politics with finance and economics. JP Morgan and other Wall Street firms are delving deep into creating scenarios and assigning probabilities of what might unfold. As expected, the probabilities by firms form a wide spectrum, making the whole exercise confusing. Nevertheless, the higher probability scenario goes like this: Over the decades, bond vigilantes have a way of getting politicians to pare back on extreme adventures. Today, the US government has to refinance $10 trillion of debt. Higher rates will increase the growing budget deficit due to the expected tax cuts. That is why the 10-year Treasury Bond is hovering around 4.5 per cent. Wall Street pundits are currently projecting a range of 5,000 to 5,500 for S&P for year-end, around the same price as now. This shows that no one really knows about the short-term outlook. Trump is focused on US markets and has moderated his tweets on tariffs, China, and Chair Powell, whenever the market slides. This is well captured by The Wall Street Journal's recent headline: 'Trump Meets His Match: The Markets'. Higher inflation can cause stagflation and some analysts are saying it may have already begun. A sharp fall in the US dollar is making imports more expensive and that is beginning to seep into prices gradually. So what to do and what to watch for? On the 'do' front, please see my April 13 article. As John Bogle, founder of Vanguard and father of exchange-traded funds, said: 'Time is your friend, impulse is your enemy.' In a risk-off world, return of investments is more important than risk on investments. Preserving wealth in the short-term is paramount. Long-term, the US is still the most innovative, largest and liquid equity and bond market. High-net-worth individuals are asking about not just what to do with their investments but also about structures, safety and succession. Some are moving the conversation's focus from rebalancing to actually relocating, albeit this is at a preliminary stage. Middle East and Asia look relatively attractive for their dynamism, low taxes, safety and quality of life.
