Tongaat Hulett welcomes NPA action against ex-executives

The National Prosecuting Authority (NPA) has finally charged several former Tongaat Hulett executives as well as a Deloitte audit partner with fraud, following an almost two- year-long investigation linked to the accounting scandal that rocked the group a few years ago.

Seven accused, including Tongaat Hulett’s long-time former chief executive Peter Staude and Gavin Kruger, the Deloitte audit partner that worked on the group’s audit, appeared in the Durban Commercial Crimes Court on Thursday in relation to fraud charges totalling R3,5 billion.

Other Tongaat Hulett executives who appeared in court on the fraud charges include the group’s former chief financial officer Murray Munro, former managing director of Tongaat Hulett Developments Michael Deighton, as well as Rory Wilkinson, Kamlasagrie Singh and Samantha Shukla.

The JSE-listed sugar producer and land developer welcomed the NPA’s court action and progress in the case on Thursday.

“Tongaat Hulett welcomes this development in the legal process, and it will continue to cooperate with law enforcement authorities whenever required to ensure that those responsible for the historic mismanagement of Tongaat Hulett are held accountable,” Johann van Rooyen the group’s company secretary said in a statement. – Bloomberg