Guptas’ suspicious transactions must be investigated by the Hawks‚ DA says

Suspicious transactions amounting to R6.83bn involving the Guptas‚ details of which have been revealed in court papers by Finance Minister Pravin Gordhan‚ must be investigated by the Hawks‚ the Democratic Alliance says.

Gordhan lifted the lid on the shady deals this week when he went to court to seek a declaratory order that the cabinet has no authority to intervene in the impasse between the banks and the Gupta businesses.

DA finance spokesman David Maynier said on Sunday that Gordhan had pushed the “red button” and escalated the dirty war between himself and President Jacob Zuma’s most important clients‚ the Guptas. He said the application for declaratory relief‚ relating to the Minister’s powers in respect of the closure of private bank accounts‚ was a major escalation because the court papers revealed: - that the Governor of the South African Reserve Bank‚ Lesetja Kganyago‚ has serious reservations about the inter-ministerial task team on the closure of bank accounts‚ which he warns could be viewed as political interference and could pose a risk to financial stability; and - a large number of suspicious transactions‚ including a transaction involving VR Laser Asia‚ and a transaction‚ relating to the purchase of the Optimum Coal Mine.

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“The court papers reveal‚ most importantly‚ 72 suspicious transactions‚ in the amount of R6.83 billion‚ all of which relate to the Guptas‚ or companies controlled by the Guptas. “Of the 72 suspicious transactions‚ interestingly‚ 26 suspicious transactions‚ in the amount of R5.99 billion‚ take place after Mr Nazeem Howa‚ the Chief Executive Officer of Oakbay Investments (Pty) Ltd‚ lodged his first complaint‚ claiming ‘corporate bullying’ and “anti-competitive practices”‚ with the Minister on 08 April 2016. “Whatever the case‚ we have to be sure that the suspicious transactions are being investigated by the South African Police Service‚” said Maynier. He added: "I have already laid charges of corruption against Atul Gupta‚ Ajay Gupta and Duduzane Zuma‚ in terms of the Prevention and Combating of Corrupt Activities Act (No. 12 of 2004)‚ at a police station in Cape Town [CAS 1200/3/2016] on 17 March 2016 and will now request them to extend their investigation into possible exchange-control violations relating to a suspicious transaction involving VR Laser Asia‚ as well as the other suspicious transactions‚ including the R1.3 billion transaction involving the purchase of the Optimum Coal Mine.”

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