Johannesburg - Former estate agent Wendy Machanikhas been fined R1.5m after pleading guilty to 90 counts of theft, Business Day newspaper reported on Tuesday.
The plea and sentence agreement was made an order of the Johannesburg Specialised Commercial Crimes Court on Monday. She was ordered to pay R300 000 upfront and the remainder in monthly instalments.
Last month, she pleaded guilty to thefts involving R27m.
Her lawyer Sam Cohen said he was "confident" she would be able to pay the fine in monthly instalments of R25 000.
The court withdrew charges against her co-accused Bruce Bernstein, who was the chief financial officer ofWendy Machanik Property Holdings.
The two were arrested last year on charges of conspiracy to commit fraud, failure to keep accounting records, and failure to reflect over 100 transfers between the company's trust and business accounts.
Resinvest Opinion: What about the R27mil. How will the money be paid back? #ridiculous legal system
Wendy Machanik pleads guilty to theft (previous Article from 11 October)
Johannesburg - Former estate agent Wendy Machanikhas pleaded guilty to 90 counts of theft, totalling R27m, according to a report on Monday.
Another two counts were for failing to keep accountable records of her trust account, Business Day reported.
Due to Magistrate Phillip Venter's concerns about terms of sentence, Machanik would only know her fate next month.
On Friday Venter said she should be sentenced for two counts of contravening the Estate Agency Affairs Act separately from the 90 counts of theft, which are regarded as a common-law crime.
The plea and sentence agreement, however, stipulated that sentencing should take all 92 counts together.
Johannesburg - Former estate agent Wendy Machanikhas pleaded guilty to 90 counts of theft, totalling R27m, according to a report on Monday.
Another two counts were for failing to keep accountable records of her trust account, Business Day reported.
Due to Magistrate Phillip Venter's concerns about terms of sentence, Machanik would only know her fate next month.
On Friday Venter said she should be sentenced for two counts of contravening the Estate Agency Affairs Act separately from the 90 counts of theft, which are regarded as a common-law crime.
The plea and sentence agreement, however, stipulated that sentencing should take all 92 counts together.
Fin 24
