Saambou officials in court over bank’s collapse

Two Saambou officials, facing criminal charges in relation to the collapse of the bank six years ago, have pleaded not guilty in the Pretoria High Court.

Saambou Bank was placed under curatorship on February 9, 2002.

The charges against Gerhardus de Clerq and Charles Edwards involve some R640 million. They are accused of preventing the release of information on the failing financial status of Saambou Holdings to depositors, stakeholders and investors.

A third accused, Johan Myburgh, died of cancer last month.

The State is currently presenting a 120-page indictment.