Johannesburg - Warrants for the arrest of Barry Tannenbaum and Dean Rees, alleged to have been behind a multi-billion rand pyramid scheme, have been issued, Finance Minister Pravin Gordhan said in his Medium-Term Budget Policy Statement in parliament.
Gordhan said one individual was thought to have benefited by up to R800m on which "he was not probably paying any tax."
The scheme crossed some eight jurisdictions, said Gordhan who was formerly head of the South African Revenue Service (Sars).
Tannenbaum, who currently lives in Australia, has denied being involved in such a scheme.
"Our efforts have to include better vigilance in both the public and private sectors against corruption and financial mismanagement," said Gordhan.