Wendy Machanik's trial to resume next year

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Wendy Machanik's trial to resume next year

The trial of former estate agent Wendy Machanik will resume next year, National Prosecuting Authority spokeswoman Kholeka Gcaleka said on Wednesday.

She said it did not continue as scheduled on Wednesday because the defence counsel was not available.

“The matter was then postponed for the defence counsel to submit representations to the National Director of Public Prosecutions.” The trial will resume on February 17.

Machanik, the close corporation Wendy Machanik Property Holdings, and its chief financial officer Bruce Bernstein are charged with conspiracy to commit fraud, among other things.

Machanik is out on R25,000 bail, and Bernstein on R5000 bail. They are charged with failing to keep accounting records and failing to reflect over 100 transfers between the corporation's trust and business accounts.

The second charge is for failing to have accounting records audited for 2008, 2009 and 2010. The alternative charge is failing to cause financial statements to be made out for 2008 and 2009.

The third count is failing to notify the Estate Agency Affairs Board (EAAB) of each trust account that was opened. The final charge is for conspiracy to commit fraud.

The two allegedly made irregular transfers totalling R28 million from Wendy Machanik Property Holdings, to a fictitious account. Machanik allegedly used this money to keep her company afloat, and for personal expenses.

The High Court in Johannesburg made a final order in May prohibiting Wendy Machanik Property Holdings or Machanik herself from operating “trust, savings accounts or other interest-bearing accounts”.

In January, the high court ruled Machanik should not be granted a fidelity fund certificate for 2011, which would have allowed her to operate as an estate agent.

The move followed a successful court application by the EAAB in December to place the agency's trust accounts under curatorship. - Sapa 

 


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