Tongaat Hulett CEO, six others in court for fraud
Updated | By Eva Chipa
Six former senior executives of Tongaat Hulett in KwaZulu-Natal and one other accused appeared before the Durban Specialised Commercial Crimes Court on Thursday.
The six were arrested on charges of defrauding the sugar company to the tune of R3.5billion.
NPA spokesperson Natasha Kara, says they were each granted bail of R30 000.
“They were each granted bail of R30 000 today in court, conditions of their bail are that they surrender all travel documentation and passports.
“They are charged with contravening the Financial Markets Act, the Companies Act and the Prevention of Organised Crime Act.”
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Six of the seven accused are former employees of Tongaat Hulett including CEO Peter Staude whilst the seventh was an auditor with Deloitte and Touche.
Kara says if the accused wish to travel out of the province they need to ask permission first as they may be a flight-risk
“Also should they require to travel out of the province of KZN they need to get prior permission from the investigating officer. This request for travel should be accompanied by an itinerary.”
The matter was postponed to 11 April.
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