7 in court for Tongaat Hullet fraud
Six former senior managers at Tongaat Hullet and an ex-Deloitte employee will line up on charges of fraud in the Durban Magistrate's Court on Thursday.
The former staff members - aged between 45 and 68 - are accused of backdating land sale agreements between 2015 and 2018.
Hawks spokesperson Simphiwe Mhlongo says the revision grossly impacted the sugar producer's financial reports.
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As a result, inaccurate profits were declared and the suspects allegedly pocketed huge bonuses.
"As a result, the company lost approximately R1.5 billion. A case of fraud was reported at Durban North Police Station and the case docket was allocated to the Hawks members from Durban Serious Commercial Crime Investigation for further investigation.
"The suspects were charged for fraud this morning."
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