Former Transnet chief executive officer Brian Molefe and Anoj Singh the former finance boss, were among the four people who were arrested on Monday morning in connection with a R93 million corruption and fraud case linked to the procurement of 1064 locomotives in 2015.
Five people including the former Transnet group CEO Siyabonga Gama, have already been charged in the case.
“Several arrests of former Transnet executives have been effected this morning, through arrangement with their legal representatives,” said Sindisiwe Seboka, the Investigating Directorate (ID) national spokesperson.
“They are expected to appear this morning in the Palm Ridge Specialised Crimes Court.”
Former Transnet group chief executive, Brian Molefe and former finance head Anoj Singh were reportedly among those that were arrested this morning.
The matter stems from a payment of R93 million to Trillian Capital, a Gupta-linked company, to secure funding for the purchase of the locomotives.
The transaction advisory was contract was initially awarded to global investment bank JP Morgan before the deal was cancelled. The contract was subsequently awarded to Trillian.
The estimated cost of the projected skyrocketed from an estimated R38 billion in 2012 to more than R50 billion.
“In 2012, Transnet went on a request for Proposal tender to get transaction advisory services to secure funding for $2.5 billion (equivalent of R30 billion at a time) to fund the acquisition of the 1064 locomotives deal,” said Seboka
IN the Zondo Commission report it was recommended that the police investigate Molefe, Gama and Singh for their alleged roles in syphoning money from Transnet to the Gupta family.
Source: News24, IOL, image from IOL: Simphiwe Mbokazi
