Saambou alleged fraudsters' case postponed

Saambou officials charged with fraud will only appear in court next year

The trial of three senior officials of the collapsed Saambou Bank has been postponed in the Pretoria High Court until next year. Gerhardus De Klerk, Johan Myburg and Charles Edward are facing 10 charges of fraud, one of theft and two of contravening the Company's Act.

The men are accused of preventing the release of information on the failing financial status of Saambou Bank and Saambou Holdings to depositors, shareholders and investors.

They allegedly did so in order to continue attracting investments and prevent share prices from falling. The men's bail of R50 000 each has been extended. The trial will start on April 16 next year.