Along with the seven individuals, eight companies were also charged. They are facing charges under SA’s Contravention of the Financial Markets Act and the Companies Act.

Spokesperson for the country’s priority crimes unit, Siyabulela Vukubi says this comes after the majority shareholders in the companies defrauded the minority shareholders by manipulating share prices.

Vukubi, says the suspects include three lawyers, two auditors, directors and senior officials of the accused companies.  

--SABC--