Lesotho, SA Courts Freeze Assets in M700m Clothing Industry Fraud Case

Appeals have delayed the implementation of two forfeiture judgments handed down in May

• Courts in Lesotho and South Africa have ordered the forfeiture of one property in Maseru, three properties in Ladybrand, and about R177,000 in cash.
• But three months later, the judgments are yet to be implemented because the parties involved have lodged appeals.
• The assets were allegedly bought with money diverted from CGM Group and its subsidiary Presitex — one of Lesotho’s largest clothing manufacturers –…