Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
The dominant issue was whether property acquired prior to the commission of the scheduled offence can be provisionally attached as "proceeds of crime" on an equivalent value basis under the PMLA. Interpreting the definition as comprising multiple limbs, the forum held that the "equivalent value" limb permits attachment where the actual proceeds are untraceable or unavailable because they were siphoned off or vanished; a narrower reading would defeat the Act's object by enabling offenders to frustrate recovery. Applying binding precedent and rejecting contrary authority, the provisional attachment was upheld and the appeals were dismissed. - AT
The dominant issue was whether property acquired prior to the commission of the scheduled offence can be provisionally attached as "proceeds of crime" on an equivalent value basis under the PMLA. Interpreting the definition as comprising multiple limbs, the forum held that the "equivalent value" limb permits attachment where the actual proceeds are untraceable or unavailable because they were siphoned off or vanished; a narrower reading would defeat the Act's object by enabling offenders to frustrate recovery. Applying binding precedent and rejecting contrary authority, the provisional attachment was upheld and the appeals were dismissed. - AT
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