Former Tongaat Hulett execs could face racketeering charges
The multi-billion rand fraud case involving Tongaat Hulett executives has been postponed.
Former CEO Peter Staude, executives Murray Munro, Michael Deighton, Rory Wilkinson, Kamasagrie Singh, Samantha Shukla and Deloitte audit partner, Gavin Kruger appeared in the Durban Specialised Commercial Crimes Court on Monday.
They are accused of backdating land sale agreements between 2015 and 2018.
It allegedly resulted in inaccurate profits being declared by the sugar producer.
READ: Seven accused of defrauding Tongaat Hulett granted bail
The suspects are said to have pocketed huge bonuses.
"They face charges of fraud amounting to approximately R3,5 billion, as well as charges of contravention of the Financial Markets Act, the Companies Act and Prevention of Organised Crime Act," says KZN NPA spokesperson Natasha Kara.
"The matter was postponed to 2 June 2022 for the State to update the court on the application process for racketeering charges to be brought against the accused.
"The accused will remain our on bail."
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