Jeffery’s Bay businessman, Stephanus De Wet De Lange, appeared in the Port Elizabeth Specialised Commercial Crimes Court on Wednesday on fraud and theft charges involving R4.5 million.
He’s a co-director of Cinzaco 180 (Pty) Ltd and was released on R5 000 bail.
The NPA says De Lange, who is a 50% shareholder of the Jeffreys Bay-based company, is accused of embezzling R4.5m and faces charges of fraud and two counts of theft.
It is alleged that between March of 2014 and December 2017 he unlawfully transferred a total of R3.277 million rand from the Cinzaco bank account to his family's trust account.
On another two occasions, also in December 2017 and in April of 2018, he allegedly unlawfully transferred separate amounts of R870 000 and R423 000 from the bank account of Cinzaco to the bank account of his family Trust.
The State did not oppose bail as De Lange gave his full co-operation during the investigation.
He will be back in court on the 7th of September.
