Former Transnet CEO Brian Molefe and his co-accused appeared briefly in the Palm Ridge Specialised Crimes Court on Wednesday.former group chief financial officer Anoj Singh, former chief financial officer Garry Pita; Eric Wood, the CEO of the defunct Trillian Capital Partners; Phetolo Ramosebudi; alleged “Gupta fixer” Kuben Moodley; Siyabonga Gama; and Regiments Capital directors Nevin Pillay and Litha Nyhonyha.
Former McKinsey director Vikas Sagar stands accused in his personal and representative capacity, while employee Goitseone Mangope is accused as the current representative of the company. With the companies added, the number of those accused of multimillion-rand corruption at the parastatal stands at 18.They are charged with contravention of the Public Finance Management Act, fraud, and money laundering in connection with Transnet’s procurement of 1,064 locomotives in 2015.
The charges stem from the locomotives transaction advisory tender which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1,064 locomotives costing more than R54-billion. Regiments Capital was irregularly onboarded and ended up benefiting from the irregular appointment by Transnet in respect of the contract. The contract value and scope for the services required were later escalated to more than R305-million.
This agreement, the State further contends, included the sourcing of the China Development Bank loan and the club loan — to the amount of $2.5-billion — on behalf of Transnet. The accused also face charges linked to the R93.4-million paid to Trillian Asset Management in 2015.
All low life criminals. To jail with all of them!!!!
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Trial of 11 accused in Transnet corruption case postponed to AprilThe accused include Transnet’s former CEOs Brian Molefe and Siyabonga Gama, former CFOs Anoj Singh and Garry Pita, and Regiments Capital shareholder Eric Wood
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