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· The National Prosecuting Authority of South Africa through
its investigating directorate is trying to unearth billions of
funds looted from the state-owned rail agency -Transnet.
· NPA has obtained court orders to freeze over R 1 billion
worth of assets of the current and former directors of Guptas
controlled Regiments.
The National Prosecuting Authority of South Africa through its
investigating directorate is trying to unearth billions of funds
looted from the state-owned rail agency -Transnet. The authority in
an affidavit filed in the court recently reportedly gives evidence
that Transnet paid Gupta-linked Regiments Capital a whopping R1.685bn.
This amount is some R577million more than the R1.108 billion
originally contracted.
Regiments executives Litha Nyhonyha and Niven Pillay, as well as
Trillian Capital Partners CEO Eric Wood are mentioned in the affidavit
as accused. Wood was a formerly with Regiments, but continued to have
interests in the company by way of acquiring stake in the financial
services company even after he left as a director. Three persons
mentioned in the affidavit will have to face the charges which fall
within the provisions of racketeering, money laundering and fraud.
Wood, Nyhonyha and Pillay have been accused of working close with
Gupta associate Salim Essa and are alleged to have accepted illegal
payments. The personal wealth of the three persons mentioned in the
affidavit, it is alleged, had increased dramatically a few years
after they met the Guptas and Essa.
NPA has obtained court orders to freeze over R 1 billion worth of
assets of the current and former directors of Gupta controlled
Regiments. The NPA has also seized Regiments’ servers for
investigation. The investigating agency also found large scale
financial bungling in the running of power utility – Eskom – and found
evidence of large scale financial misappropriation and money
laundering.
