Around R9m (US$590,000) intended for a new yacht built was diverted to pay back a UAE businessman
The former managers of South African catamaran builder Tag Yachts SA used funds ring-fenced for a client’s yacht to pay off loan finance for a new yacht-building venture, a South African Court heard this week.
To continue reading, please see the IBI Plus subscription options below for accessing our Premium Content.
You must be a registered user and logged in to read this content.
Benefits inlcude:
Already registered? Sign in now