THE fraud trial of former estate agent Wendy Machanik and two of her co-accused was postponed on Tuesday until October 19 as the parties move closer to a plea-bargain agreement.

Prosecutor Adele Carstens told the Specialised Commercial Crimes Court in Johannesburg that all matters that were in dispute between the parties had been resolved.

She said one document that was needed before the agreement could be finalised was a correctional services report which had not yet been completed.

A plea and sentence agreement is reached when the prosecutor and the accused agree on a lesser sentence for the accused provided the accused pleads guilty to an offence.

Ms Carstens said the case was in the final stages of being concluded.

Ms Machanik, her company Wendy Machanik Property Holdings and the company's chief financial officer, Bruce Bernstein, are facing charges including fraud and failure to keep accounting records. The charges relate to irregular transfers totalling R28m from the Wendy Machanik Property trust fund to another bank account.

Last year, the Estate Agency Affairs Board won a bid to interdict Ms Machanik and her close corporation, Wendy Machanik Properties, from continued trading, even under a different guise.

mabuzae@bdfm.co.za