The former Chief Financial Officer of one of the country's leading dairy companies Fair Cape, has been accused of defrauding the company of more than R23 million.
Jean-Jurgen Olivier (57) and his wife Abeline (56) appeared in the Cape Town magistrates court on Tuesday.
The couple faces 171 counts of fraud and two of money laundering.
Western Cape Hawks spokesperson, Warrant Officer Zinzi Hani says the couple appeared in court on the day of their arrest where they were both granted bail of R80 00 each, with strict bail conditions.
Jean-Jurgen was the group CFO for 12 years before leaving the company in March this year.
About three years ago, he became a phantom shareholder of the Fair Cape group.
Hani says it was the company's CEO who made the shocking discovery that Jean-Jurgen had been transferring company funds to his personal bank account.
A case was registered and transferred to the Hawks.
Hani says their investigation revealed that the couple were the account holders and signatories of the identified accounts and received frequent and regular payments amounting to a total of R 23 351 968.05
The alleged fraud was committed between January 2013 to 30 April this year.
The matter was postponed to 18 March 2024 where the couple is expected to appear in the Specialised Commercial Crimes Court in Belville.
Jean-Jurgen is a familiar face in the netball community of the Western Cape where he led many of his teams to victories.
He also runs the Netfiks Netball Academy with his two daughters.
