They face 19 counts of fraud and an additional three counts
for contravening the financial markets, companies and prevention and combatting
of corrupt activities acts.
Last Thursday, the Durban Specialised Commercial Crimes
Court granted bail to Tongaat’s former directors, including Staude, as well as
former Deloitte partner Gavin Kruger (56).
Staude’s co-accused are former CFO Murray Munro (55);
former managing director of Tongaat Hulett Developments (THD) Michael Deighton
(57) ; former THD planning director Rory Wilkinson (50); as well as two other
executives, Kamasagrie Singh (56) and Samantha Shukia (50).
The state further said the accused’s “common purpose” was
in place just before and during the fraud, which is alleged to have taken place
between 2015 and 2018.
The case against the seven goes back to deals to sell and
buy 69 properties, between 2015 and 2018, through THD.
It is alleged that the group overstated the value of the
deals in Tongaat’s financial records, and lied that proper accounting
procedures had been followed in determining the revenue on the deals. —
news24.com
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