Nov 29, 2022

Mawazo Writing Africa

Writing about the main

R93m Transnet corruption case postponed to August

The R93 million corruption trial of former Transnet executives and businessmen, including former Transnet CEO Siyabonga Gama, was postponed to August on Wednesday.

The defendant, who was on trial in the District Court of Palm Ridge appeared in Johannesburg, are charged with breaching the Public Finance Management Act, fraud, corruption and money laundering.

The defendants are Gama, former Acting CFO Garry Pita, former Group Treasurer Phetolo Ramosebudi, the shareholder of Regiments Capital, Eric Wood, and his associate Daniel Roy and Kuben Moodley, owner of Albatime.

Directorate of Investigation, spokesman Sindisiwe Seboka said the matter was awaiting further investigation August 29.

TimesLIVE Premium previously reported that the fees relate to R93 million paid by Transnet Trillian for arranging a R30 billion club loan d had paid to support the purchase of 1,064 locomotives. But it was reportedly a double payment — Transnet had already paid regiments, of which Wood was also a director, for the work. Trillian reportedly did nothing to earn the fee, instead charging Transnet.

The locomotive deal rose from R38 billion to R54.5 billion, and the controversial Gupta brothers allegedly received about R6 billion in bribes. Zondo Inquiry into State Capture found.

Support independent journalism by subscribing to The Sunday Times. Only 20 R for the first month.