Premier Fishing takes swift disciplinary action on misappropriation of funds

Sooren Ramdenee, the former CEO of the Premier Fishing. Picture: Ian Landsberg/ Independent Newspapers

Sooren Ramdenee, the former CEO of the Premier Fishing. Picture: Ian Landsberg/ Independent Newspapers

Published Mar 4, 2024


Premier Fishing refers to the recent statements made by its holding company involving the misappropriation of funds from Premier Fishing’s Mauritian bank account.

Premier Fishing wishes to inform the public that it has taken decisive action by formally laying a criminal case, encompassing charges of fraud, theft, and money laundering, in accordance with the Prevention of Organised Crime Act, No. 121 of 1998.

This legal process is directed towards the individuals directly linked to the events surrounding the fraudulent transfer and theft of $820 000 (R15.6 million).

An exhaustive internal investigation conducted by Premier Fishing identified Sooren Ramdenee, the former CEO, as an interested party, principally owing to his close association with the events precipitating the misappropriation of funds.

Premier Fishing’s thorough examination further uncovered instances of negligence on Ramdenee’s part, directly contributing to the loss of company assets.

In response, the company has taken swift and decisive disciplinary action, ultimately resulting in the termination of his employment.

While the company’s findings have been relayed to the SAPS for further investigation, Premier Fishing acknowledges the profound impact of this discovery.

Regrettably, the company finds itself compelled to pursue criminal charges against, among others yet to be identified and implicated, Ramdenee and, moreover, to allow the legal process to duly unfold independently and impartially.

Premier Fishing remains firm in its commitment to the highest standards of corporate governance.

It holds an unwavering expectation that all employees adhere to these principles without compromise.

Any deviation from these standards and lawful business practices is deemed as a serious transgression and will not be tolerated.

The decision to pursue criminal charges underscores Premier Fishing’s unwavering dedication to accountability and integrity.

It is a testament to the company’s firm resolve to hold individuals accountable for any wrongdoing that undermines its business operations and tarnishes its reputation.

Premier Fishing reiterates its relentless commitment to recover the misappropriated funds in their entirety, whether from Ramdenee, or any other individuals associated with this criminal act.

The company will pursue all available legal avenues to ensure that justice is served, and that the financial loss is recovered.

Premier Fishing stands firm in its determination to hold accountable those responsible for this breach of trust and will spare no effort in the pursuit of restitution and justice.

Cape Argus