Former Tongaat Hulett bosses set to appear in court over accounting scandal
10 February 2022 - 10:19
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Former senior executives and managers of Tongaat Hulett are expected to appear in court on corruption charges on Thursday. Picture: SUPPLIED
At least seven former senior officials of Tongaat Hulett are set to appear in the Durban specialised commercial crimes court on Thursday in a huge fraud and corruption case.
Sources close to the investigation confirmed the officials were arrested on Wednesday.
In January, the JSE-listed sugar producer said it was claiming R450m against former directors and executives implicated in the group’s accounting scandal, including former CEO Peter Staude.
This followed a damning 2019 PwC forensic investigation that found some senior executives at Tongaat had allegedly been part of inflating the group’s profits.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Former Tongaat Hulett bosses set to appear in court over accounting scandal
At least seven former senior officials of Tongaat Hulett are set to appear in the Durban specialised commercial crimes court on Thursday in a huge fraud and corruption case.
Sources close to the investigation confirmed the officials were arrested on Wednesday.
In January, the JSE-listed sugar producer said it was claiming R450m against former directors and executives implicated in the group’s accounting scandal, including former CEO Peter Staude.
This followed a damning 2019 PwC forensic investigation that found some senior executives at Tongaat had allegedly been part of inflating the group’s profits.
This is a developing story.
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