former Tongaat Hulett executives charged with fraud amounting to R3.5 billion made their first appearance in the Durban High Court yesterday.
Peter Staude, Murray Hector Munro, Michael Edward Deighton, Rory Edward Wilkinson, Kamlasagrie Singh, Samantha Shukla and Gavin Dykes Kruger were arrested in February and had appeared in the Durban Commercial Crimes Court.
It is alleged that between March 2015 and September 2018, the accused acted in common purpose to misrepresent to Tongaat Hulett Limited, its employees, among others, that revenue from land sales amounted to the value reflected in financial reports, when, in fact, they had backdated sale agreements.
They face charges of fraud totalling about R3.5bn, racketeering and contravention of the Financial Markets Act and Companies Act. “The case was adjourned to February 17, 2023 for a pre-trial…