Murder And Massive Fraud In South Africa

Murray murders: 'Flight risk' Singh siblings denied bail in R178m Investec fraud case accreditation Kyle Cowan Comments Comments gifting Gift article add bookmark Bookmark -00:17 Siblings Rushil and Nishani Singh.(Graphic by Sharlene Rood/News24) Siblings Rushil and Nishani Singh.(Graphic by Sharlene Rood/News24) The Palm Ridge Specialised Commercial Crime Court has denied Rushil and Nishani Singh bail, citing their risk of fleeing the country. The Singhs' extensive assets in Ghana, Botswana and the US weighed heavily against their application. Magistrate Phindi Keswa alluded to the murders of Cloete and Thomas Murray as having played a role in her weighing the interests of justice. Siblings Rushil and Nishani Singh were denied bail by the Palm Ridge Specialised Commercial Crime Court on Wednesday, with Magistrate Phindi Keswa saying she was convinced by the State's argument that they present a flight risk. The Singhs are facing charges of fraud, uttering and forgery linked to a falsified bank guarantee they provided to Investec Bank in 2019 in order to secure a R250 million loan. The loan was intended to fund their business activities in Ghana, where their company, Ghana Infrastructure Company, had secured roads and hospital construction contracts worth an estimated R1 billion. Keswa, who heard the bail application yesterday, delivered her ruling to a wheelchair-bound Nishani, who told the court that she was unable to walk as a bout of tuberculosis and pneumonia had left her extremely frail. Keswa was unconvinced, ruling that medical treatment could continue while she's in custody. READ | Murray murders: Rushil and Nishani Singh arrested, charged over R178m Investec fraud The magistrate found the State had argued convincingly that Rushil was likely to commit further crimes if released on bail. An arrest in January for a R1 million fraud case, for which he was already out on bail, weighed heavily in favour of the State's opposition to bail. Neither of the Singhs showed outward signs of emotion as they heard the verdict. The matter was postponed to 4 September, as the State had indicated that its investigations had been finalised. Keswa attributed her ruling that the Singhs were a flight risk to the significant assets the siblings hold overseas – in Ghana, Botswana and the US. The State argued that Nishani's estranged husband, Steven Killick, had purchased properties in Portugal in order to obtain a "golden visa" – a temporary residency permit in that country attained through investment. While Nishani told the court she would abandon that process, the State argued that it showed she had the means to leave the country. ALSO READ | Five McLarens and the Bad Boys Porsche: How the Singhs blew R120m on cars Keswa agreed. She also questioned the timing of Nishani's illness and the start of her medical treatment, pointing out that it appears the medical condition had started around the time the investigating officer informed the Singhs of their intention to obtain warning statements from them. While the Singhs have not been charged with the murders of Cloete and Thomas Murray, Keswa alluded to the shooting of the father and son liquidators on 18 March 2023 twice as she delivered her ruling. She said the court had weighed "the events that occurred after the liquidation of BIG" (Business Innovations Group) the company the Singhs had run, and found it was not in the interests of justice for them to be released. In addition to the charges in this case brought by Investec and the R1 million fraud case brought by Nedbank, the Singhs are also facing a criminal investigation in Ghana over the same forged bank guarantees. Nishani, meanwhile, has another case pending that was opened against her by Killick, for allegedly forging his signature on documents submitted to Investec. Investigations in the double-murder case continue, with the Singhs likely to be questioned by police as they had spent the morning with the Murrays on the day of the shooting. You have invested in the future News24 has been there for South Africa's defining moments over the last 25 years, and you've been right beside us. Your support of trusted journalism has sustained us, and now it will propel us to continue to strive to inform, inspire and empower as we try to build a better future for us all. Discover News24 Related Links Hawks nab former Estate Controller, Attorney for alleged fraud Assets of R2 m forfeited WATCH | 'I've lost everything': Freed