Analysts hail prosecutions in Tongaat Hulett scandal
Ex-CEO Peter Staude among six former executives and an external auditor charged in a R3.5bn accounting scandal at the JSE-listed sugar producer
13 February 2022 - 08:36
With criminal prosecution of white collar corporate crime rare in SA, analysts have applauded the decision to charge six former executives of Tongaat Hulett and an external auditor for their alleged role in corporate fraud amounting to some R3.5bn.
Among those in court were former CEO Peter Staude and former CFO Murray Munro, who both face 24 charges, including fraud and racketeering, for allegedly manipulating the JSE-listed company’s accounts over several years...
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