Gordhan files court papers on Gupta's nearly R7bn worth of 'suspicious and unusual' transactions
Finance Minister Pravin Gordhan has in court papers revealed nearly seven billion rands worth of "suspicious and unusual" banking transactions by the Gupta family and their companies reported to the Financial Intelligence Centre – possibly explaining why the big banks closed down their accounts. In the face of ongoing pressure to enter the stand-off with the banks on behalf of the Guptas, Gordhan has asked the Pretoria High Court to declare that he is not legally empowered to intervene in the relationship between the Guptas and the four big banks, Absa, First National Bank, Standard Bank of SA and Nedbank. Through the litigation, the Financial Intelligence Centre was permitted to reveal the information it did -"for the purpose of legal proceedings". The case has also opened the way for the banks – normally constrained by confidentiality requirements -to disclose the details of the suspicious transactions. "I am advised it is open to the banks in answering the application to disclose...
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