Sharma denies Gupta links, begs for bail amid corruption charges

The last time businessman Iqbal Sharma had contact with the Gupta family members was in 2014.

This is according to Sharma’s affidavit before the Bloemfontein magistrate’s court on Monday, where he is applying for bail. In his affidavit handed to the court, Sharma claimed he last saw fellow partner and Gupta lieutenant Salim Essa in Dubai in December 2017.

Sharma said he briefly bumped into Essa at the hotel where he and his wife Tarina Patel stayed.

“That meeting lasted about two minutes, when we greeted each other and exchanged brief pleasantries. I have no association whatsoever with the Gupta family. The state has made bald allegations of my association with the Guptas. There is no merit to this,” Sharma said in his affidavit.

Essa was also a business partner of Sharma’s in a company called VR Laser, which received millions in suspicious contracts from state arms company Denel. Allegations around VR Laser have played out frequently at the state capture commission.

Sharma was arrested last week along with Dr Limakatso Moorosi, from the department of agriculture,  Seipati Dhlamini, who was the department’s financial officer, and former Free State department of agriculture head Peter Thabethe in connection with the failed R288m Estina dairy  project.

Sharma’s bail proceedings were delayed on Monday afternoon after the state told the court that they could not proceed.

State prosecutor Peter Serunye said they were working on responding to Sharma’s affidavit after receiving it late on Sunday evening. Serunye said Sharma’s 90-page affidavit was “voluminous”.

Magistrate Estelle de Lange postponed the matter until Tuesday to allow the state to verify information received from the defence team.

In his affidavit, Sharma said he was self-employed as a business consultant. He said he was married to Tarina by Islamic rites, in community of property. Tarina, he said, was a permanent SA resident, but he was born in the UK and had a UK passport, as well as a South African ID and passport.

Sharma said all his travel documents would be surrendered to the investigating officer in the event that he was granted bail.

“I do not intend to travel out of SA in the short term but in the event that I am required to travel on business, I will engage with the investigating officer and the National Prosecuting Authority with a view of affording me consent to travel abroad.

“In any event, given the seriousness of the allegations which have been made against me, I am not likely to travel in the short term, as I wish to dispose of this matter expeditiously,” Sharma said in his affidavit.  

Both his siblings live in the US.

He said his wife was an actress and a model. She was self-sufficient and did not depend on his support.

Sharma said he had two Nedbank accounts and, on June 3, the balances in the accounts amounted to R170,000. He said the balance in the accounts was reduced after he paid his lawyers a deposit of R140,000.

Sharma said he also owned a First Abu Dhabi Bank account which stands to the credit of about $10,000 (R135,000).

Sharma said he had two Nedbank accounts and, on June 3, the balances in the accounts amounted to R170,000. He said the balance in the accounts was reduced after he paid his lawyers a deposit of R140,000.

He said his monthly expenses, which include the cost of running his house and basic expenses, amounted to about R40,000.

“I have used the savings I have made over the years and the proceeds of the encashment of my state pension (department of trade industry) to fund my living expenses,” he said.

Sharma said he owned a property in Rivonia Road in Sandton worth R5m and received a rental income of R12,000 from it.

“I make payments of rates, taxes and body corporate levies. The entire complex is being disposed of to a developer who has made an offer.”

He said they also owned a flat for his in-laws in Kenilworth, Western Cape. The property is registered in Patel’s name. He said he had 50% of the shares in Issar Global Limited, which is the owner of his R20m home in Morningside.

“As part of the bail conditions, I tender to pledge my shares to the state as security for my bail.”

Sharma said he was not a flight risk and had built a life in SA and considered it to be his permanent home.

He said he intended to plead not guilty and could afford bail of R100,000.

Earlier, Thabethe was granted bail of R10,000 in the same court. Thabethe and Moorosi face charges of contravention of the Public Finance Management Act and fraud. Dhlamini was charged with fraud, while Sharma and Nulane Investments 204 (Pty) Ltd, where Sharma served as a director, face charges of fraud and money laundering.

Moorosi and Dhlamini were each granted R10,000 bail in court last Thursday. Their matter was postponed on Monday to July 5.