SEVEN former Tongaat Hulett (THL) senior executives were charged over their role in a R3.5 billion fraud perpetrated at the company, this week appeared in the Durban Commercial Crimes Court.
The accused were: Peter Staude, Murray Munro, Michael Deighton, Rory Wilkinson, Kamasagrie Singh, and Samantha Shukla, as well as Deloitte auditor, Gavin Kruger.
IOL has previously reported that: “It is alleged that between March 2015 and September 2018, the accused acted in common purpose to misrepresent to THL, its employees, creditors, share- holders and more, that the revenue that was derived from land sales was the correct value, and correctly reflect- ed in the financial reports when, in fact, they had backdated sale agreements.”
This allegedly resulted in the accounts being misstated, incorrect profits being declared, and huge bonuses…