Awaiting-trial suspect in Investec fraud case dies in hospital

Fraud accused Nishani Singh died at the weekend in a public hospital in Johannesburg — but the cause of death has not yet been disclosed, the department of correctional services confirmed.

Nishani and her brother Rushil Singh were awaiting trial for allegedly defrauding Investec Bank of more than R175m in loans by allegedly submitting fraudulent Stanbic Ghana guarantees to secure the loan.

Correctional services spokesperson Singabakho Nxumalo confirmed Nishani died on Saturday at Chris Hani Baragwanath Hospital.

“The family was notified of the death. She had been referred to an external hospital on numerous occasions for tertiary medical care,” he said.

The department was unable to disclose the cause of death, though the hospital provide the family with information, Nxumalo said.

Rushil was arrested by the Hawks on August 26, while his sister handed herself in the next day.

The two were denied bail by the Johannesburg specialised commercial crimes court on August 28 shortly after their arrest on the grounds that they could evade trial.

Magistrate Phindi Keswa said she took into account the pair’s financial standing, their family ties and the links they had abroad.

During her bail application, Nishani was in a wheelchair and submitted a doctor’s report to the court stating she was on medication and suffered from pneumonia and tuberculosis.

The note said her condition was not permanent but Keswa ruled that required treatment could be done within the confines of a prison.

The siblings owned a company, Big Business Innovations Group, that had assets in SA, Ghana and the US.

In July, Investec secured a provisional sequestration of the joint estate of Nishani and her husband Steve Killick in the Pretoria high court, saying it owed R470m.

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