Ex-Tongaat Hulett executives make first High Court appearance
Six former Tongaat Hulett executives and an auditor accused of fraud made their first appearance in the Durban High Court on Thursday.
The group, including ex-CEO Peter Staude, is accused of backdating land sale agreements between 2015 and 2018.
Authorities say it resulted in inaccurate profits being declared and the suspects pocketing large bonuses.
The R3.5 billion fraud case has up until now been heard in the Durban Specialised Commercial Crimes Court.
READ: Tongaat Hulett fraud case headed for trial
"They face charges of fraud amounting to approximately R3.5 billion, as well as charges of contravention of the Financial Markets Act, Companies Act and the Prevention of Organised Crime Act," says KZN NPA spokesperson Natasha Kara.
"The case was adjourned to 17 February 2023 for a pre-trial conference. The accused will remain out on bail."
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