Tongaat Hulett welcomes arrests in massive land fraud case
Tongaat Hulett says it will continue to cooperate with law enforcement authorities to ensure those responsible for the historic mismanagement at the company are held accountable.
Six former company executives, ex-CEO Peter Staude, Murray Munro, Michael Deighton, Rory Wilkinson, Kamlasagrie Singh and Samantha Shukla were arrested - along with former Deloitte partner Gavin Kruger.
They have been charged with fraud, allegedly committed over a three-year period.
READ: 7 in court for Tongaat Hullet fraud
It's claimed they cooperated to backdate some land sale agreements.
The group is said to have pocketed big bonuses as a result of incorrect profits being declared.
They appeared in the Durban Specialised Commercial Crimes Court on Thursday and were granted bail.
In a statement, Tongaat Hulett company secretary Johann van Rooyen said it welcomes this development in the legal process.
ALSO READ: Seven accused of defrauding Tongaat Hulett granted bail
"Tongaat Hulett welcomes this development in the legal process and it will continue to cooperate with law enforcement authorities whenever required to ensure that those responsible for the historic mismanagement of Tongaat Hulett are held accountable."
It says civil proceedings it brought against four former executives last year are also underway.
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