A Tiger by the Tail The Story Behind the Fedbond Saga

John Field quietly placed the phone back onto the receiver. He wasnt sure if the conversation should have been over yet, but the ominous voice on the other end of the line had long since trailed off. John leaned back into his leather chair with his mind in turmoil, struggling to come to grips with the single phrase reverberating in his head: The Scorpions are coming!

A vengeful rumour of the imminent collapse of Fedbond, Johns R1.6 billion partbond company, reaches the offices of the Financial Services Board (FSB), the financial industry regulator, who decide to intervene. John is astonished to hear that the FSB wants Fedbond to be placed under curatorship, a much-maligned remedy that has killed more companies than it has cured.

And so begins Johns four-year battle with the financial industrys watchdog (the Financial Services Board FSB) to retain control of his R1,6 billion rand participation bond company, Fedbond, and protect his investors money.