Ghavalas and Co in court over R213m pension fund fraud
Publish date: 05 July 2007
Issue Number: 1861
Diary: Legalbrief Today
Category: Tenders
Leading business executives accused of fleecing pensions funds of up to R213m, including Australian-based businessman Peter Ghavalas (60) and his wife June Noreen (59), made a brief appearance in the Johannesburg Specialised Commercial Crimes Court yesterday.
Also cited in the indictment were their companies, Sounds Props, and PJ Spouse, says Business Report. 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 they 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
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