Business executives are charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering
13 July 2022 - 17:47
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Kuben Moodley (back, left), Eric Wood, Siyabonga Gama, Garry Pita, Daniel Roy and Phetolo Ramosebudi in the dock at the Palm Ridge magistrate's court. Picture: ALAISTER RUSSELL/TIMESLIVE
The R93m corruption case against former Transnet executives and businessmen, including former group CEO Siyabonga Gama, was postponed until the end of August on Wednesday.
The accused, who appeared in the Palm Ridge magistrate’s court in Johannesburg, are charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering.
The accused are Gama, former acting CFO Garry Pita, former group treasurer Phetolo Ramosebudi, Regiments Capital shareholder Eric Wood, and his employee Daniel Roy, and Kuben Moodley, owner of Albatime.
Investigating Directorate spokesperson Sindisiwe Seboka said the matter was postponed to August 29 for further investigations.
TimesLIVE previously reported that the charges relate to R93m that Transnet paid Trillian for organising a R30bn club loan to help buy 1,064 locomotives. But it was allegedly a double payment since Transnet had already paid Regiments, where Wood was also a director, for the work. Trillian allegedly did nothing to earn the fee but invoiced Transnet.
The cost of the locomotives deal ballooned to R54.5bn from R38bn, and the controversial Gupta brothers allegedly received about R6bn in kickbacks, the Zondo commission of inquiry into state capture found.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
R93m Transnet graft case postponed to August 29
Business executives are charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering
The R93m corruption case against former Transnet executives and businessmen, including former group CEO Siyabonga Gama, was postponed until the end of August on Wednesday.
The accused, who appeared in the Palm Ridge magistrate’s court in Johannesburg, are charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering.
The accused are Gama, former acting CFO Garry Pita, former group treasurer Phetolo Ramosebudi, Regiments Capital shareholder Eric Wood, and his employee Daniel Roy, and Kuben Moodley, owner of Albatime.
Investigating Directorate spokesperson Sindisiwe Seboka said the matter was postponed to August 29 for further investigations.
TimesLIVE previously reported that the charges relate to R93m that Transnet paid Trillian for organising a R30bn club loan to help buy 1,064 locomotives. But it was allegedly a double payment since Transnet had already paid Regiments, where Wood was also a director, for the work. Trillian allegedly did nothing to earn the fee but invoiced Transnet.
The cost of the locomotives deal ballooned to R54.5bn from R38bn, and the controversial Gupta brothers allegedly received about R6bn in kickbacks, the Zondo commission of inquiry into state capture found.
TimesLIVE
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