Gumede consortium lays fraud charges against losing Tongaat bidder RGS
Sugar group’s new owner, Vision, accuses losing rival of fraud
07 April 2024 - 06:11
Vision Investments, which is in the process of buying troubled sugar maker Tongaat Hulett, has opened a fraud case against losing bidder RGS of having submitted a forged bank letter claiming it had R2bn to buy the company.
Vision, partly-owned by businessman Robert Gumede, this week accused representatives of RGS, based in Mozambique, of submitting the letter from Absa Mozambique to Tongaat’s business rescue practitioners (BRPs) in support of their prolonged bid for the company...
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