Analysts hail prosecutions in Tongaat Hulett scandal
Ex-CEO Peter Staude among six former executives and an external auditor charged in a R3.5bn accounting scandal at the JSE-listed sugar producer
13 February 2022 - 00:02
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.
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