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Former Tongaat execs and ex-CEO could face racketeering charges in fraud case

Former high-profile Tongaat Hulett executives, who have been criminally charged in an alleged R3.5 billion fraud scam relating to sales of land owned by Tongaat Hulett, may also face charges of racketeering.

Former Tongaat Hulett execs could face racketeering charges

Tongaat Hulett: Decision on mandatory offer to shareholders expected next week

Analysts hail prosecutions in Tongaat Hulett scandal

With criminal prosecution of white collar corporate crime rare in SA, analysts took heart this week when six former executives of JSE-listed Tongaat Hulett and an external auditor appeared in court on charges of fraud totalling about R3.5bn.Those in court included former Tongaat CEO Peter Staude and former CFO Murray Munro who both face 24 charges that included fraud and racketeering, for allegedly manipulating the company's accounts over several years.

Tongaat Hulett welcomes the appearance in court of seve

It’s not every day that a company welcomes criminal charges being brought against its former executives, but nothing about sugar producer Tongaat Hulett seems ordinary these days. It’s not every day that a company welcomes criminal charges being brought against its former executives, but no.

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