Finally, Trasnet and the SIU ask the high court to overturn R54-billion worth of locomotive contracts – the most expensive known to have been affected by state capture.
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Following an amaBhungane exposé, the bank faces tough questions about its relationship with a key state capture enabler. It is largely staying silent.
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.
Despite having the money for maintenance and repairs, the passenger rail agency has not awarded contracts for several years, leading to a precipitous decline in train availability.
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.
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.
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.
A scathing ruling has lashed the bank for blocking a R500-million settlement for struggling Transnet pensioners. Instead Capitec used threats and misinformation to try preserve a 0.7% black-owned share held by alleged state capturers, the court found.
Transnet pension fund sets out the A to Z of its exposure to ‘Gupta corruption’.
#GuptaLeaks records disclosed in new court papers shows the Gupta computer company made R122-million profit on a deal that cost it just R167.
After allegations emerged in court of yet another scam that Regiments Capital used to plunder a Transnet pension fund, Regiments directors quickly agreed to pay half a billion rand to settle all the fund’s claims against it. But Eric Wood, a former director, has gone to court to quash the deal, claiming his former colleagues are using the company’s money to save themselves, leaving him to face the music.
International locomotive manufacturers and consulting companies in rail utility’s sights.
Emails reveal the seduction of Acsa, SAA and Transnet treasury boss, Phetolo Ramosebudi.
Records show how Regiments Capital passed more than half of its consulting fees from Transnet, SAA and Denel contracts to Gupta and Essa fronts.
Analysis: How the Transnet locomotive acquisition went from R38.6bn to R54.5bn.
Evidence now shows that Salim Essa helped two locomotive manufacturers to secure benefit in the largest locomotive acquisition in Transnet’s history.