GUPTAS ARREST: This is how the Guptas captured Transnet - The former president, cabinet ministers, board members, and executives all played a role in the Gupta family looting the state company of billions.
In the report, Acting Chief Justicedescribed the capture of Transnet between 2010 and 2017 as a “systematic scheme” aimed at “securing illicit and corrupt control of the decision-making.”
Zondo says that collusion between players inside and outside Transnet resulted in the “strategic positioning of particular individuals in positions of responsibility”. Acting Chief Justice Raymond Zondo described the capture of Transnet between 2010 and 2017 as a “systematic scheme” aimed at “securing illicit and corrupt control of the decision-making.”The money for these “services”, which Zondo said added little or no value, was then laundered through Gupta-linked companies, with the inside men on the board and Transnet executives receiving paybacks for their work.
Gigaba, then minister of public enterprises, played his role in the conspiracy by ensuring the appointment of Molefe and Singh and the reinstatement of Gama, who had been fired for misconduct at Transnet Freight Rail, of which he was chief executive.“free reign” during the locomotive procurement process, during which he was paid about R7.32-billion in kickbacks from the China South Rail Corporation and the China North Rail Corporation.
Likewise, an IT contract and a manganese expansion project were also looted, with a company owned by Essa’s wife, Zeenat Osmany, scoring a cool R326-million as a result of a direct intervention in the IT deal by Molefe.
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