Peter Hain 'to expose' UK bank linked to Gupta transactions

01 November 2017 - 13:09
By Genevieve Quintal
Peter Hain. File photo.
Image: STEPHEN HIRD/REUTERS Peter Hain. File photo.

House of Lords peer and anti-apartheid activist Peter Hain is expected to expose a UK bank linked to money laundering and the controversial Gupta family.

Hain is addressing the UK House of Lords on Wednesday afternoon at the second reading of the country's Money Laundering Bill.

Hain wants the bank investigated for possible criminal complicity.

In September‚ Hain wrote to the UK Chancellor of the Exchequer Philip Hammond asking him to urge law enforcement agencies to track down about R7bn thought to have been laundered through the Guptas’ networks‚ and ensure it was returned to SA’s Treasury.

He specifically asked that HSBC‚ Standard Chartered and the Bank of Baroda be probed. He said whistle-blowers in SA had told him these banks had been or still were conduits for corrupt proceeds.

Hain has listed 28 names including the Guptas‚ President Jacob Zuma‚ his sons Duduzane and Edward‚ daughter Duduzile‚ wives Bongi Ngema-Zuma and Thobeka Madiba-Zuma and former wife Nkosazana Dlamini-Zuma.

Others on the list were suspended Eskom chief financial officer Anoj Singh‚ the utility’s former CEO Brian Molefe and Gupta associate Salim Essa.

UK authorities are now investigating allegations around the Gupta family’s use of UK banks in Dubai and Hong Kong to aid them in laundering South African taxpayers’ money.

The FBI and the US Department of Justice are also conducting a joint investigation into the Gupta brothers and their relatives living in the US‚ under that country’s Foreign Corruption Practices Act. They are also investigating them for money laundering.

Dubai‚ through its central bank‚ is also looking into allegations of money laundering involving the Gupta family.