The Hawks in Gauteng have launched a manhunt for five company directors at the specialist engineering group Consulmet.
Spokesperson Colonel Katlego Mogale says the suspects are wanted on allegations of fraud and the contravention of the Companies Act.
He says they agreed with the complainant to build a coal wash plant amounting to R55 million in September 2022.
Colonel Mogale says the complainant paid the company in several installments amounting to over R39 million only to learn that they did not keep their end of the deal.
He says they engaged with the suspects and secured arrest warrants but when the team arrived at the company the directors were gone.