‘Letterbox company’ run by former Gupta executive forfeits more than R14.5m
Cape Town — A company linked to an alleged money-laundering scandal in which the Guptas are implicated has had to forfeit R14.5m plus interest held in its bank account with Mercantile Bank. A notice of the forfeiture targeting Homix and finalised in terms of the country’s foreign exchange regulations was made by the Reserve Bank in Friday’s government gazette. Reserve Bank deputy governor Kuben Naidoo said the R14,5m plus interest which was forfeited to the state was the capital standing to the credit of Homix in an account with Mercantile Bank. The forfeited money will be deposited in the National Revenue Fund. Investigative reporters with amaBhungane had been on the trail of alleged money laundering of kickbacks through bank accounts belonging to Homix, a "letterbox company". These kickbacks were apparently paid in return for getting contracts with state owned transport and logistics company Transnet. Homix CEO Ashok Narayan was a former managing director of Gupta IT company Sahar...
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