Guptas, FIC face off over Oakbay's 'suspicious and unusual' transactions
Companies in the Gupta family's Oakbay group on Friday launched a court case against the Financial Intelligence Centre (FIC) to access more information about reports of “suspicious and unusual” transactions, recently revealed in a court case by Finance Minister Pravin Gordhan. Pressure has been mounting on the Gupta family and their companies, first with the closure of their bank accounts by the four big banks earlier this year and then the release of the Public Protector's State of Capture report on 2 November – detailing serious allegations against them. Just prior to that, in October, there was the bombshell release of a list of 72 “suspicious and unusual” transactions with a value of at least R6.8bn over four years, in a certificate from the FIC. The FIC certificate was annexed to the founding papers in Gordhan's case, which is asking the High Court in Pretoria to declare that the finance minister has no power or obligation to intervene in the relationships between the Gupta's a...
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.