Blanqui Costella, Getty Images
The High Court has upheld the Financial Sector Conduct Authority's (FSCA) appeal against an earlier judgment which concluded that its investigation into former Tongaat Hewlett Developments MD Michael Deighton was unlawful.
After a hearing this week, a full bench of the Pretoria High Court concluded that it was reasonable not to provide Deighton with the documents, given their confidentiality. It was found that the previous court decision did not recognize that the investigation into his conduct was still in the investigative stage.
Mr Deighton, along with other former executives, faces criminal charges in connection with a multi-billion rand scheme to sell land owned by the sugar giant. In 2020, the FSCA to determine whether individuals were involved in the publication of false, misleading or deceptive statements about the performance of Tongaat, which sparked SA's second biggest scandal after Steinhoff. An investigation has begun.
South Africans need to gain knowledge if we want to build a prosperous future. News24 has been keeping the nation informed for 25 years and we are entering a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news designed to inform, empower and inspire.
