FROZEN ASSETS
Court deals major blow to NPA’s bid to claw back cash lost from Transnet
The judge found Hermione Cronje failed to disclose ‘material facts’ when she successfully applied for the assets of some Regiments Capital directors to be frozen
The National Prosecuting Authority (NPA) has lost a major battle in its campaign to claw back the billions of rand estimated to have been lost to state capture corruption, after the high court in Johannesburg reversed the freezing of more than R1bn in assets allegedly linked to the looting of Transnet.
Judge Maletsatsi Mahalelo found that investigative directorate head Hermione Cronje had failed to disclose "material facts" when she successfully applied in November 2019 for the assets of Regiments Capital directors Niven Pillay, Litha Nyhonyha and Eric Wood to be frozen, on the basis they were the potential proceeds of crime...
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