The R93m corruption case against former Transnet executives and businessmen, including ex-group CEO of Transnet Siyabonga Gama, was postponed on Wednesday until August.
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 has been postponed to August 29 for further investigations.
TimesLIVE Premium previously reported that the charges relate to R93m which Transnet paid Trillian for organising a R30bn club loan to help buy 1,064 locomotives. But it was allegedly a double payment — 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.
R93m Transnet corruption case postponed to August
Image: Alaister Russell/TimesLIVE
The R93m corruption case against former Transnet executives and businessmen, including ex-group CEO of Transnet Siyabonga Gama, was postponed on Wednesday until August.
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 has been postponed to August 29 for further investigations.
TimesLIVE Premium previously reported that the charges relate to R93m which Transnet paid Trillian for organising a R30bn club loan to help buy 1,064 locomotives. But it was allegedly a double payment — 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 locomotives deal ballooned from R38bn to R54.5bn, and the controversial Gupta brothers allegedly received about R6bn in kickbacks, the Zondo commission of inquiry into state capture found.
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
READ MORE:
Transnet signs R25.4bn loan with international banks
Transnet wins rare accolades from logistics sector
Ex-Transnet executives, ‘Gupta-linked associates’ granted bail after arrest for alleged corruption
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos