Former Cell C executive Mohamed Ismail Adamjee was released on R50 000 on Tuesday, following his appearance at the Johannesburg Specialised Crimes Court.
Adamjee who was arrested by the Directorate for Priority Crime Investigation (Hawks) on Friday, was charged with fraud and corruption for allegedly inflating invoices by information service providers, resulting in losses to the tune of R130 million for Cell C.
The 44-year-old was an IT manager at one of Cell C's service providers and is alleged to have committed the crimes between 2012 and 2019 with a director at one of the mobile network operator's service providers.
One of Abamjee's bail conditions is that he does not leave Gauteng and hands over his passport to the police, in addition to reporting to the Germiston South African Police Service (SAPS) Commercial twice a week and not selling is wife's house.
The matter has been postponed until April 14 pending further investigation.