Dodgy offshore loan transfers by Gupta-owned Sahara Computers raise questions
The shock information pointing to alleged money laundering is the latest from the leaked Gupta e-mails cache
Experts believe unconventional payments made by Gupta-owned Sahara Computers into offshore accounts could point to alleged money laundering. Information on the payments is contained in leaked e-mails linked to the Guptas, their associates and companies. The data show that between February 2013 and September 2015, Sahara Computers, which at the time was the Gupta empire’s flagship company, made 113 overseas payments totalling almost R552m. Experts said characteristics that could raise suspicions over money laundering include that the payments were all rounded off and carried no detailed descriptions or invoice numbers. In normal business practices, bank statements are expected to show business expenses and income. "One has to ask, why so many loans, as most companies do not operate this way," Killoran said. The payments to the banks, which were both authorised dealers of the South African Reserve Bank, were unlikely to be loans, he said. This was because the Bank would generally not ...