TUESDAY, 8.30AM
THE R28,63-million Tollgate fraud trial began yesterday, the much-delayed probe into one of South Africa’s biggest corporate collapses.
In the dock was only one of the three alleged co-conspirators, former director Mervyn Key. Tollgate chairman Julian Askin and his colleague Lawrie Macinkintosh have both fled to the UK.
Key is accused of “thievery and roguery on a grand scale” according to the prosecutor, including the misapropriation of R5,5-million intended for Grand Prix racing sponsorship, which was later moved abroad in contravention of Reserve Bank regulations.
Key’s lawyer will argue that the Office for Serious Economic offences obtained information illegally, and that their aggressive investigation had undermined the right to a fair trial.