Property mogul Machanik pleads guilty

Former estate agent Wendy Machanik has pleaded guilty to 90 counts of theft, totalling R27 million, 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.

Sapa

Posted at 07:26AM Oct 22, 2012 by Editor in Market  |  Comments[5]