Businessman Roger Kebble was fined R1,2-million or 12 months imprisonment for contravening the Stock Exchange Act by the Johannesburg High Court on Thursday, the South African Broadcasting Corporation reported.
Kebble pleaded guilty to two counts of fraud relating to market trading and market manipulation.
Prosecutor Gerard Roberts said the state agreed to withdraw the remaining charges because the main perpetrator was his late son, Brett Kebble. Roger Kebble was facing five charges of tax fraud. He was expected to pay the fine in three instalments of R500 000 over the next year.
A further four years imprisonment was suspended for four years. – Sapa