The new owner of the Gupta’s Infinity Media‚ Mzwanele Manyi‚ says the Financial Intelligence Centre report showing suspicious money transactions involving the business he has bought is of no concern to him. "I am comfortable with a recent court ruling [Gordhan vs Oakbay], which threw that report out [and] that everything is above board with the company I have bought‚" said Manyi. Last week, Oakbay Investments announced its withdrawal from its media interests‚ selling its shareholding in Infinity Media and TNA to Lodidox‚ owned by Manyi and management‚ for a combined R450m. In August 2016‚ the FIC listed 72 suspicious transactions from Gupta-linked bank accounts. Manyi said once the FIC report was struck out by the High Court in Pretoria during former finance minister Pravin Gordhan’s case against Oakbay Investments‚ he was "comfortable" with his decision to purchase the company. "It does not concern me now. If there was any unlawfulness the courts would have said so. They gave no va...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.