Former Tongaat Hulett executives set to appear in commercial crime court
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.
Last month 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 which 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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