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Pickard gets R200 000 fine for R100m pension scam.(News)
- Article from:
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The Independent on Saturday (South Africa)
- Article date:
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August 30, 2008
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Copyright informationCOPYRIGHT 2008 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: Bruce Cameron
Cape businessman Jan Pickard jnr has avoided serving time in prison by entering into a plea bargain with the state for his role in the theft of a R28.8 million surplus from the retirement fund of his family controlled liquor company, Picardi Investments,
As part of the plea bargain, Pickard was yesterday given a two-year jail sentence, suspended for five years, and an effective R200 000 fine on various conditions, including that he give testimony in the criminal trials of other parties involved.
He has also pledged to assist Tony Mostert, the liquidator of the raided Picbel Group Provident Fund, to recover all the lost money, which now ...
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