Mathakha David Madzivhandila (40) and his 36-year-old wife, Hilda Lutendo Madzivhandila, were on Monday granted R5 000 bail each by the Johannesburg Specialised Commercial Crimes Court following their arrest earlier in the day for fraud.
The couple allegedly approached the Industrial Development Corporation (IDC) and applied for funding to develop their business. They provided the institution with fraudulent documents which left the IDC suffering a loss of R1.1 million.
The duo would also source quotations from suppliers and service providers and alter the quoted amount to be claimed from IDC. The Vosloorus couple will be in the dock again on 15 September 2016.
