Two arrested on fraud charges linked to St Francis yacht-building business

Two people have been arrested in connection with the plundering of millions of rand through a St Francis Bay luxury yacht company.

The men are expected to appear in the Port Elizabeth Commercial Crimes Court on Tuesday morning.

They face charges of reckless trading and fraud.

The Herald previously reported on how the directors of the firm allegedly blew millions of rand meant for the building of luxury catamarans.

Clients from all over the world paid for yachts they never received.