The money was earned from a three-year partnership between the consulting behemoth and state capture enabler Regiments Capital. McKinsey continues to insist that it was unaware that Regiments was channeling part of the fees to the Guptas.
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In the saga of disgraced financial services firm Regiments Capital, one name keeps popping up: Nedbank. After years of digging, we can disclose that the bank incentivised the firm to peddle the bank’s financial products to public sector clients that Regiments was supposed to advise impartially. Together, they raked in hundreds of millions.
The tax collector can breathe a sigh of relief after the court ordered a last-minute halt to the release of funds linked to state capture.
Days before the Reserve Bank must release funds it quietly froze to Chinese rail group CRRC, the taxman goes to court to preserve them and prepares to claim billions from CRRC based on evidence that it paid kickbacks to the Guptas.
New information at the Zondo commission has unearthed evidence that executives of the tech giant channelled questionable payments to the ANC – before and after it landed significant contracts with the city – and to a company controlled by current Johannesburg mayor Geoff Makhubo.
Flamboyant tech firm executive Jehan Mackay made repeated payments to ANC functionaries over three years, the Zondo commission heard today [Wednesday]. An investigation commissioned by EOH found payments to the current deputy minister of state security, the then ANC Youth League treasurer and Jacob Zuma’s assistant.
Since the Guptas fled to Dubai, some members of the family have kept busy. Key to the next-generation Guptas’ international adventures is an alliance with another Indian business family, the Jalans.
Leaked draft forensic reports claim Richard Seleke — the Gupta-tainted former public enterprises director general — pushed through a tender for a company he allegedly knew from the Free State.
In the late 2000s, Regiments used its proximity to the ANC to capture the City of Jo’burg. Then, when the Guptas came to town, it hitched its wagon to the state capture train.
A tax audit has pried open new details of the money laundering structure used by the crime family to fund the infamous wedding in Sun City with cash from the Estina dairy project. It turns out the wedding was only part of the story.
Evidence showing how Gupta family businesses round-tripped and laundered state funds from the Estina dairy project as well as Transnet locomotive deal kickbacks, may lie in the electronic vaults of more than a dozen New York banks. Now, the IDC has been given the keys.
The ANC’s Limpopo treasurer was by all appearances VBS Mutual Bank’s chief political fixer at the bottom rung of government, the municipalities. Evidence however suggests that he also connected the VBS fraudsters to the highest echelons of the ruling party and may even have introduced the criminal bank to the Gupta crime family.
Not for the fainthearted: Drawing on contracts and banking data we make public for the first time, we analyse in detail how Transnet locomotive suppliers pledged R9-billion in kickbacks to the Guptas, of which at least R3.7-billion has been paid.
Three years ago today amaBhungane and its #GuptaLeaks partners revealed a kickback contract between the Guptas and a locomotive manufacturer contracted to Transnet. Now we publish eight. These, and banking data, show how comprehensively the crime family pillaged SA’s state rail company – in cahoots with two Chinese manufacturers that have since merged to form the world’s biggest rail conglomerate.
In Part 1 we explained how Deloitte received R207-million worth of consulting work from Eskom through a process that chairman Jabu Mabuza described as difficult to conceive of anything “less fair, equitable, transparent or competitive”. That senior Eskom employees bent and broke the rules for Deloitte now seems obvious. The only question is why?
Deloitte, one of the “Big Four” accounting multinationals, took exception when South Africa’s electricity utility accused it of “pure corruption” and demanded repayment of R207-million in consulting fees from the state capture era. It proclaimed its innocence and said Eskom had tried to bully it into a settlement. Now a deep dive by amaBhungane suggests it is Deloitte’s competitors and the taxpayers who should feel aggrieved.
Whistleblower blows the lid on how the Public Protector allegedly cooked the Estina investigation.
#GuptaLeaks info implicates ANC secretary-general in a computer deal that ran parallel to the Vrede dairy scam — and suggests the then-national agriculture minister also played a role.
The infamous family’s latest mega-wedding has cemented ties with another clan already implicated in one of the Gupta’s more memorable ventures in South Africa. Now the two families are branching out in a big way.