Latest news with #Maoto
The Citizen
16-07-2025
- The Citizen
Mozambican sentenced for fraud while his accomplice absconds
Mozambican sentenced for fraud while his accomplice absconds According to a media statement issued by the Hawks, the Hawks Middelburg based Serious Commercial Crime Investigation secured a two-year imprisonment sentence against a 38 year old undocumented Mozambican national for fraudulent activities. The convict, Reginaldo Alberto Nuvunga, was arrested alongside his countryman Kenneth Maoto on 22 January 2021 after they appeared before Mbibane Magistrate's Court for the Vaalbank case. Investigation revealed that the two allegedly used cloned bank cards to purchase diesel and refill their bowser. The Hawks Middleburg Serious Commercial Crime Investigation acted on information received from the bank's investigation team. Investigations led the Hawks team to the two suspects who were already attending court in Mbibane. Maoto was granted bail, and Nuvunga was remanded in custody until he was sentenced on Monday, July 14. Nuvunga was sentenced to two years imprisonment, of which one year is suspended for five years on condition that he is not found guilty of the similar offence. The court further ruled that after serving his time in prison, Nuvunga must be deported to his country of origin. The bowser was also seized. A warrant of arrest has since been issued against Maoto. Anyone who might have information about Maoto's whereabouts must please contact the investigating officer, Captain Jacobus Lombard on 082 521 3225. All received information will be treated as confidential, and callers may opt to remain anonymous. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
16-07-2025
- IOL News
Hawks request assistance in locating fraud suspect who vanished after release on bail
Lieutenant Colonel Magonseni Nkosi said Mozambican national Kenneth Maoto was released on bail and has since absconded, while his co-accused Reginaldo Alberto Nuvunga, has been convicted. Image: Hawks The Mbibane Magistrate's Court in Mpumalanga has sentenced a 38-year-old undocumented Mozambican national to two years in jail for fraudulent activities. The convict, Reginaldo Alberto Nuvunga, was arrested alongside his countryman Kenneth Maoto in January 2021. 'Investigation revealed that the two used cloned bank cards to purchase diesel and refilled their browser,' said Mpumalanga spokesperson for the Hawks, Lieutenant Colonel Magonseni Nkosi. The Hawks Middleburg's serious commercial crime investigation unit acted on information received from an investigation team from a commercial bank regarding the fraud which took place around eMalahleni. Investigations led the Hawks team to the two Mozambican suspects. Following their arrest, Maoto was released on bail, and Nuvunga was remanded in custody until he was sentenced this week. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Reginaldo Alberto Nuvunga Image: Hawks 'Nuvunga was sentenced to two years imprisonment, of which one year is suspended for five years on condition that he is not found guilty of a similar offence. The court further ruled that after serving his time in prison, Nuvunga must be deported to his country of origin,' said Nkosi. The browser was also seized by the Hawks. 'A warrant of arrest has since been issued against Maoto. Anyone who might have information about Maoto's whereabouts may please contact the investigating officer, Captain Jacobus Lombard on 082 521 3225. All received information will be treated as confidential, and callers may opt to remain anonymous,' said Nkosi. Meanwhile, Mpumalanga acting provincial head of the Hawks, Brigadier Danie Hall, requested the general public and companies to be extra cautious when using their bank cards, warning that card cloning can cause significant financial losses. A month ago, IOL reported that a 62-year-old man who had absconded from court after getting bail in 2019 has been sentenced to 14 years' imprisonment by the Skukuza Regional Court in Mpumalanga for killing two rhinos. According to the National Prosecuting Authority (NPA) spokesperson, Monica Nyuswa, on February 17, 2019, Philip Mfana Masuku from Bhekiswayo Trust in Kabokweni, Mpumalanga, was apprehended after field rangers detected the movement of three suspects near the Pretoriuskop Section of the Kruger National Park. She said the rangers responded with the aid of sniffer dogs, and Masuku was apprehended; however, his accomplices managed to escape and were never found. 'A search of the crime scene led to the discovery of two knives and a bag containing fresh rhino horns,' Nyuswa added. She said that after Masuku was arrested, he got bail but later absconded. 'A warrant of arrest was issued, and he was re-arrested in 2023,' said Nyuswa. IOL News
Daily Maverick
28-05-2025
- Business
- Daily Maverick
Daybreak Foods: Chicken producer hopes business rescue will hatch a turnaround
Creditors and almost 3,000 employees may finally see some resolution as the first business rescue meetings for beleaguered chicken producer, Daybreak Foods, kick off next week. Daybreak Foods, which has been in the spotlight over the past two months for animal cruelty, mismanagement, failure to pay staff and failure to pay contractors, has successfully applied to be placed under business rescue. Under the Companies Act, business rescue practitioner Tebogo Maoto is required to convene the first meeting of creditors and employees within 10 days of his appointment. The first meeting of creditors will be held virtually through Microsoft Teams on Monday, 2 June at 10am. The first meeting of employees will also take place virtually through Microsoft Teams on Tuesday, 3 June at 10am. In a notice, Maoto said the formal agenda for the meetings would be communicated to all affected parties in due course. In the interim, affected parties may address any queries they have directly to Motau at [email protected] In a media statement, the Public Investment Corporation (PIC), a major creditor and shareholder in Daybreak Foods, said it was of the 'firm belief that the company can be rescued and must be rescued, and that business rescue is the best path to preserve the company's value and potential, saving approximately 3,000 jobs, and importantly, to realise returns for clients and their beneficiaries on their investment'. Maoto was formally appointed as the senior business rescue practitioner (BRP) of Daybreak Foods on Thursday, 22 May 2025, after the company was placed under voluntary business rescue two days earlier. Maoto has significant experience in the field of business rescue, turnarounds and corporate restructurings, both in South Africa and in cross-border mandates. This extends to the turnaround and restructuring of various non-listed companies, including York Timber, Adax Bioenergy (Sierra Leone), Karstern Boerdery and Premier Hotel OR Tambo. A statement from the company notes that the business rescue proceedings for Daybreak Foods will focus on stabilising its ongoing operations, while Maoto assists with the development of a turnaround strategy and finding solutions to the funding shortfalls of Daybreak Foods. The PIC has already undertaken several measures to contribute towards stabilising Daybreak Foods, which include the injection of R74-million in working capital, intended to address the company's immediate liquidity needs. Daybreak Foods' interim chairperson Dr Charlotte Nkuna commented: 'We welcome the appointment of the BRP as part of the collective effort, together with the Public Investment Corporation, to rescue the Company and save approximately 2,800 jobs. We are confident that the business rescue proceedings will help Daybreak Foods to achieve a credible turnaround plan in the interest of all our stakeholders.' Daybreak Foods has a legal moratorium on any legal and/or enforcement actions being instituted against it, while the company's board and the BRP prepare the necessary proposals to rescue the company from its financial distress. DM
IOL News
27-05-2025
- Business
- IOL News
Daybreak Foods enters business rescue as financial troubles mount and 2,800 jobs hang in the balance
State-owned poultry producer Daybreak Foods has started business rescue proceedings Image: NSPCA State-owned poultry producer Daybreak Foods has entered business rescue due to financial difficulties with Tebogo Maoto appointed to lead efforts to secure funding and protect around 2,800 jobs. IOL previously reported that the company sought approval from the Public Investment Corporation due to severe financial problems made worse by the culling of underfed chickens and protests from workers over unpaid salaries. Last week, Johannesburg High Court issued a final order against Daybreak Foods, following legal action by the National Council of SPCAs (NSPCA) over allegations of animal cruelty. The ruling, handed down on Friday, compelled the poultry producer to implement a series of measures aimed at addressing animal welfare concerns at its Limpopo facilities. The court rejected Daybreak's claim that a R74 million cash injection from the Public Investment Corporation (PIC) had resolved the crisis. In a statement, Daybreak Foods said Maoto brings extensive experience in business rescue, turnarounds, and corporate restructuring, both within South Africa and across borders. 'The business rescue proceedings will focus on stabilizing operations while developing a turnaround strategy and addressing funding shortfalls,' the company said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Daybreak Foods was placed under voluntary business rescue on May 2025 after a resolution filed by its Board in terms of Section 129(1) of the Companies Act. 'We welcome the appointment of the BRP as part of the collective effort, together with the Public Investment Corporation to rescue the Company and save approximately 2 800 jobs," Daybreak Foods' interim chairperson, Dr Charlotte Nkuna said "We are confident that the business rescue proceedings will help Daybreak Foods to achieve a credible turnaround plan in the interest of all our stakeholders.' In terms of Section 133 of the Act, the poultry producer has also been granted a legal moratorium protecting it from legal and enforcement actions while the Board and BRP prepare proposals to rescue the company from financial distress. "The Daybreak Foods Board, in conjunction with the PIC, in its capacity as the shareholder and creditor, will support the BRP to develop and implement a sustainable business rescue plan that will be aimed at addressing its short and long-term funding needs, but also ensure future sustainability and profitability," the statement concluded. IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel
