Africa-Press – South-Africa. Two people accused of defrauding the Industrial Development Corporation of South Africa Ltd (IDC) of more than R54 million have been granted bail.
According to the Hawks, Molatelo Lorraine Masipa, 43, and Leago Marcia Motla, 44, appeared in the Palm Ridge Specialised Commercial Crimes Court on Friday after being arrested on the same day.
In a statement, Hawks spokesperson Captain Lloyd Ramovha said Masipa was granted bail of R50 000 while Motla was granted R10 000 bail.
The case was postponed to 29 November for disclosure of the docket.
It is alleged that between August 2014 and October 2015, the two defrauded the IDC of millions through a funding application to procure a sawdust briquette machine, meant to process coal, from France.
Ramovha said:
“Motla allegedly assisted Masipa in forging the invoices that were sent to the IDC after the transactions.”
“The pair misused the funds for personal benefit after Masipa laundered the funds in different accounts.”
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