Singh siblings denied bail after bank fraud arrest over flight risk concern

Siblings Nishani Michelle Singh and Rushil Singh were denied bail by the Palm Ridge specialised commercial crimes court on Wednesday.

The court ruled it was not in the interests of justice for them to be granted bail amid concerns they could evade trial.

The owners of the Big Business Innovations Group, which has assets in South Africa, Ghana and the US, are accused of fraudulently submitting false Stanbic Ghana guarantees when they applied for a working capital facility of R35m and for a term loan agreement of more than R150m from Investec SA.

Rushil was arrested by the Hawks on Monday, while Nishani handed herself in on Tuesday.

In her bail ruling, magistrate Phindi Keswa said there was merit to the state's concern there was a risk they could evade trial if granted release pending trial. 

Keswa said she took into account their financial standing, their family ties and the ties they have abroad.

She also considered the health of Nishani, who was in court in a wheelchair.

A doctor's report was handed to the court stating she was on medication. Her condition was not a permanent illness.

“Though she has to get medication and treatment, I agree with the submissions from the state. I do not think there is evidence that suggests this cannot be done within the confines of the prison,” Keswa said.

The case was postponed to September 4.

Last month, Investec secured a provisional sequestration of the joint estate of Nishani and her husband Steve Killick in the Pretoria high court, saying it is owed R470m. Business Day reported the Waterkloof couple have until November to provide reasons why the sequestration order should not be made final.

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