On Friday morning, the Hawks and the National Prosecuting Authority’s Investigating Directorate detained five former Transnet officials on allegations of fraud, corruption, and money laundering.
For various findings, commission head Chief Justice Raymond Zondo recommended the prosecution of Gama, Wood, former Transnet CEO Brian Molefe, CFO Anoj Singh, Gupta fixer Kuben Moodley, and former Transnet treasurer Phetolo Ramosebudi in the second volume of the State Capture Inquiry report.
Transnet gave Regiments R79.2 million on 30 April 2014, Trillian R93.48 million on 4 December 2015, and Ramosebudi a Range Rover Sport in exchange for Trillian being recruited to replace JP Morgan as the principal arranger of an R12 billion club loan, for which Trillian was paid R93.4 million.
Transnet lost R1.5 billion as a result of several transactions proposed by Regiments for which it was paid a total of R229 million in fees between 2015 and 2019, according to one of the findings.
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