An explosive Al Jazeera investigation has alleged that staff at three SA banks have been aiding and abetting a global gold smuggling ring by laundering money in exchange for bribes.

The Doha-headquartered news organisation reported on Thursday that staff at Standard Bank, Absa and Sasfin had been on the payroll of Mohamed Khan, a reported accomplice of cigarette magnate Simon Rudland, who is alleged to be the kingpin behind multiple Zimbabwean gold smuggling gangs. These are said to smuggle gold into SA, the proceeds of which are allegedly laundered through Khan’s companies Salt Asset Management and PKSA before being transferred to offshore bank accounts...

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.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.