Former Cell C executive, accused in R130m fraud case, released on R50 000 bail
iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
Former Cell C executive accused of R130m fraud gets R50,000 bail 26 January 2021 - 19:21 A former Cell C executive was granted R50,000 bail on Tuesday. Mohamed Ismail Adamjee is accused of defrauding the company of R130m by allegedly colluding with a supplier to inflate prices. Image: ALAISTER RUSSELL
Former Cell C executive Mohamed Ismail Adamjee, 44, was released on R50,000 bail by the Johannesburg specialised crimes court on Tuesday.
Adamjee is charged with fraud relating to colluding with a Cell C supplier to inflate invoices, resulting in losses amounting to R130m, according to the National Prosecuting Authority (NPA).
NPA spokesperson Phindi Mjonondwane said Adamjee s bail was granted with strict conditions, including that he reports at the Germiston police station commercial branch on Mondays and Fridays, between 6am and 5pm. He also may not put the house that is in his wife s name on the market during the duration of trial, he may not leave
Former Cell C executive to remain behind bars for alleged R64 million fraud Citizen reporter The Hawks allege that Mohamed Ismail Adamjee colluded with a contractor to inflate invoices.
A former executive of Cell C was on Friday remanded in custody by the Palm Ridge Commercial Crimes Court following his arrest on Wednesday for alleged fraud and corruption amounting to an estimated R64 million.
Hawks spokesperson, Captain Lloyd Ramovha, said Mohamed Ismail Adamjee, 44, was an IT exec at the mobile network provider.
“It is alleged that during the period 2012 to 2019, he colluded with a director of a contracted entity responsible for IT and network services at his workplace. They reportedly inflated invoices which resulted in an actual loss of over R64 million to Cell C.
Cell C says it has zero tolerance for illegal activity.
The Hawks confirmed an arrest at a mobile network service provider in Germiston.
It started its investigation in 2020, which is ongoing. More arrests are expected.
Mobile operator Cell C says it will allow the law to take its course in the punishment of a former executive who was arrested on Friday for alleged fraud and corruption involving an approximately R64 million tender scam.
The Directorate for Priority Crime Investigation (HAWKS) reported on Friday that the unit had arrested a 44-year-old man who was an IT manager at one of the country s mobile network service providers in Germiston.
vimarsana © 2020. All Rights Reserved.