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The suspensions leave Denel’s finance operations rudderless at a time when the state-owned arms manufacturer is trying to rebuild its financial affairs after being the key site of State Capture corruption.
The Asset Forfeiture Unit (AFU) has secured a R43 million preservation order
The matter concerns a deal in which a criminal case of fraud and theft opened by the DRC against Ngoy to purchase weapons from the Denel Group
The sheriff of the court also attached two bank accounts, with balances of R35m and R224,000
The National Prosecuting Authority's Asset Forfeiture Unit obtained a preservation order of R43m to attach property belonging to Brig Ngoy Timothee Makwamba, who was the DRC’s defence attache to South Africa.