Chronicle Editor
FORMER Tongaat Hulett chief executive officer, Peter Staude, and six others, some ex-directors, charged in a R1,5 billion fraud case involving the sugar producer, have been granted R30 000 bail each.
The seven were granted bail during their first appearance before the Durban Specialised Commercial Crimes Court in South Africa on Thursday morning. The fraud charges relate to sales of the sugar producer’s land between 2015 and 2018.
The other co-accused are former CFO Murray Munro (55), former managing director of Tongaat Hulett Developments Michael Deighton (57), ex-Tongaat Hulett Developments planning director Rory Wilkinson (50), Kamasagrie Singh (56), Samantha Shukia (50) and Gavin Kruger (56).
Kruger was not an employee at Tongaat but was professional services firm Deloitte’s audit partner at the time. Deloitte audited Tongaat for 82 years before being replaced by EY. “When they were doing the sale, it is alleged that they were backdating (it),” said provincial Hawks spokesperson Captain Simphiwe Mhlongo. – News24.
Bunjiwe Mkwananzi