Fraud charges have been filed against three senior executives of Spar, amid allegations that the grocer falsely claimed in 2019 it was owed money in order to gain control over certain supermarkets.
This is just the latest blow for the JSE-listed retailer, which is also facing off with one of its store owners in Johannesburg amid allegations it inflated the price of a store, though the group strenuously denies wrongdoing. The governance of the company also under scrutiny after Graham O’Connor became Spar chair in March 2021, a month after retiring as CEO, which is at odds with the King Code's recommendation of at least a three-year break.
The civil rights group AfriForum said in a statement its private prosecution unit had helped Chris and Harry Giannacopoulos and their family’s group of companies, the Giannacopoulos Group, file criminal complaints of fraud and perjury against these executives in Gauteng. Further complaints will soon be filed in KwaZulu-Natal, it said.
Spar said on Thursday it was unable to comment, as it had not seen the formal complaint.
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