Seven Tongaat Hulett executives including former chief executive officer, Peter Staude, and some ex-directors, charged in a R1,5 billion fraud case involving the sugar producer, have been granted R30 000 bail each.
They were granted bail during their first appearance before the Durban Specialised Commercial Crimes Court in South Africa on Thursday morning.
The other co-accused are former CFO Murray Munro (55), former managing director of Tongaat Hulett Developments Michael Deighton (57), ex-Tongaat Hulett Developments planning director Rory Wilkinson (50), Kamasagrie Singh (56), Samantha Shukia (50) and Gavin Kruger (56).
The fraud charges relate to sales of the sugar producer’s land between 2015 and 2018.
