Former Cell C executive Mohamed Ismail Adamjee, 44, was released on R50,000 bail by the Johannesburg specialised crimes court on Tuesday.
Adamjee is charged with fraud relating to colluding with a Cell C supplier to inflate invoices, resulting in losses amounting to R130m, according to the National Prosecuting Authority (NPA).
NPA spokesperson Phindi Mjonondwane said Adamjee's bail was granted with strict conditions, including that he reports at the Germiston police station commercial branch on Mondays and Fridays, between 6am and 5pm. He also may not put the house that is in his wife's name on the market during the duration of trial, he may not leave Gauteng and must hand over his passport to the investigating officer until finalisation of the matter.
The case was postponed to April 14 for further investigation.