EC financial director gets R100 000 bail
AN Eastern Cape Chief Financial Director who allegedly defrauded a flooring company of R71 million over 10 years was granted R100 000 bail by the East London Magistrate's Court today.
Suspended Floorworx Chief Financial Director Henry Louis Fourie Schreuder,53, was arrested today after he handed himself over to the East London based Hawks unit.
This comes after Accéntuate released a statement in December stating that an internal audit of their subsidiary, Floorworx - who supplies both the public and private sectors with carpet flooring solutions -was believed to have been defraud.
Hawks spokeswoman Lieutenant Anelisa Feni said that Fourie handed himself over after the lead detective visited his home in Nahoon last week with the intention of arresting him. "However, he was allegedly away attending a business meeting in Pretoria."
Feni said that Fourie allegedly defrauded R71 million from Floorworx, based in Wilsonia, East London, between the years 2005 and 2015. "It is alleged that while Schreuder was the CFD…he would upload fictitious creditors on the company’s system and authorise their payments. The company’s head office in Johannesburg would then approve this payment since he had authorised it. Furthermore, the payment would be transferred into Schreuder’s private bank account and he would then transfer a portion of this money into his wife and son’s bank accounts," she said. "Moreover, he purportedly gambled a portion of this amount and also bought luxury items like cars, jewellery and Persian carpets."
Feni added that the case was referred to the Hawks for investigation in December 2015 after a whistle-blower, who is employed at Floorworx, discovered the irregular payments.
Schreuder’s next court appearance will be on the 5th of April, 2016.
