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Fishing quotas, supply chain disruptions and input costs created a challenging environment for Sea Harvest.
The JSE-listed owner of Premier Fishing says the commercial fishing group lost about R15.5 million ($820 000) to fraud last year when money was transferred out of its bank account to an “unknown third party”.
African Equity Empowerment Investments (AEEI), which owns a majority of Premier Fishing’s shares, made the announcement in an update to shareholders on Thursday. AEEI is part of Iqbal Survé’s Sekunjalo group of companies.
It previously described the incident, which took place on 15 November last year, as “cybercrime” but now says it was fraud. It had also released a statement on Monday, now withdrawn, when it also called it a cybercrime in its title and first paragraph.
READ | AEEI reports sharp fall in net assets amid AYO unbundling, cybercrime hit
“Following a thorough investigation and disciplinary proceedings, the CEO of Premier Fishing was found guilty of negligence, and appropriate action has been taken in this regard,” said AEEI, without going into details.
“Efforts to recover the misappropriated funds are ongoing, and the board of directors of AEEI is committed to exploring all available avenues for their recovery,” it added.
Premier Fishing delisted from the JSE in August last year.
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