Executives in court over pension fund fraud

Among the accused is Australian based businessman Peter Ghavalas (60), and his wife June Noreen (59), says Business Report. Also cited in the indictment were their companies, Sounds Props, and PJ Spouse. Ten of the accused are from Johannesburg. The others are from Australia, Zambia, Cape Town and Hoedspruit in Mpumalanga. All face 28 counts relating to theft and fraud, money laundering and conspiracy to commit crimes linked to nine pension funds. In a 144-page indictment, the State alleges that the accused unlawfully conspired with each other to help themselves to surplus cash from nine pension funds. Presiding Judge Jeremy Jansen van Vuuren referred some cases to the Johannesburg High Court for trial on October 1. Others were postponed to August 22 and 27 for further investigation and for the appointment of legal representatives. Full report in Business Report