What the banks said to the state capture commission in five classic quotes
ANC leaders and Gutpa-friendly ministers attempted to intimidate the banks into reopening the accounts at a series of meetings
The major banks have testified how they closed Gupta bank accounts because the law required them to act when they saw evidence of unexplained and irregular transfers of money. What was really shocking was what happened next. ANC leaders and Gutpa-friendly ministers attempted to intimidate the banks into reopening the accounts at a series of meetings. This is how the drama unfolded: 1. The ANC said attacking the Guptas was attacking black business Standard Bank’s former head of compliance, Ian Sinton, testified that the bank was summoned to ANC headquarters to explain the closure of Gupta accounts. The ANC’s then secretary-general (now chair) Gwede Mantashe, his deputy Jessie Duarte and economic policy head Enoch Godongwana were present at the meeting. “We were asked to comment on the perception that we were part of white monopoly capital (WMC) oppressing black business. We were asked to comment on reports that we were taking instructions from Stellenbosch in closing accounts. It wa...
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