Six former executives as well as an audit official were served with an indictment during their latest court appearance.
Former Tongaat Hulett executives as well as a Deloitte and Touche auditor facing charges of fraud, racketeering and contravening several Acts connected to the misrepresentation of revenue from a land sale, are heading to the Durban High Court.
Former executives, Peter Staude (CEO), Murray Hector Munro (CFO), Michael Edward Deighton (director), Rory Edward Wilkinson (director), Kamasagrie Singh (legal executive), Samantha Shukla (finance executive) and Gavin Dykes Kruger (auditor at Deloitte and Touche) appeared in the Durban Specialised Commercial Crimes Court on fraud charges.
It is alleged that the seven suspects acted in common purpose and allegedly backdated land sale agreements which had a significant impact on the financial reports of the company, resulting in the incorrect profits being declared and managers receiving huge bonuses.
They face charges of fraud amounting to about R3,5b, as well as charges of contravention of the Financial Markets Act, Companies Act and Prevention of Organised Crime Act (POCA).
The state served the accused, by way of their legal representatives, with the indictment.
The indictment includes racketeering charges authorised by the National Director of Public Prosecutions.
“The case was adjourned to September 15 for the first appearance in the Durban High Court,” says NPA regional spokesperson, Natasha Ramkisson-Kara.