Sep 25, 2022

Mawazo Writing Africa

Writing about the main

The R24.9m Nulane Investment fraud case postponed until September

The Free State High Court on Friday adjourned the R24.9 million Nulane Investment fraud and money laundering case until September 8 for another case management session.

Sindisiwe Seboka, spokeswoman for the Directorate of Investigation, said the case management meeting is expected to finalize outstanding procedures ahead of the trial scheduled for next year from January 23 to March 3.

The matter is concerned Procurement fraud involving R24.9 million paid between November 2011 and April 2012 by the Free State Department of Agriculture (FSDoA) to Nulane Investments, a company owned and controlled by Iqbal Sharma.

From there, the funds were diverted to Islandsite Investments.

The R24.9 million was allegedly paid to Nulane to conduct a feasibility study on the Free State’s flagship Mohoma Mobung project, as Nulane has unique capabilities to implement the r works.

The defendant in the case is Ronica Ragavan. former Transnet Board Member Iqbal Sharma, former Free State Department Head for Rural Development (FSDoRD) Peter Thabethe and former FSDoA CFO Seipati Dhlamini. The other defendants are Nulane Investment 204 (Pty) Ltd and Islandsite Investments Pty Ltd.

“This is one of the key state arrest matters, that have been in court since June 2021, and it is an important milestone that the court appearance coincides with the last edition of the Zondo Commission’s report,” Seboka said.

Seboka said reflects the case reflects the significant work the ID has already done on some of these key state-conquest issues.

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