POLITICS

Suspicious Guptas transactions must be investigated - David Maynier

DA MP says Hawks should extend the investigation he initiated in March this year

Guptas’ suspicious transactions must be investigated by the Hawks

16 October 2016 

The Minister of Finance, Pravin Gordhan, has pushed the “red button” and escalated the dirty war between himself and President Jacob Zuma’s most important clients, the Guptas.

The application for declaratory relief, relating to the Minister’s powers in respect of the closure of private bank accounts, is a major escalation because the court papers reveal:

- that the Governor of the South African Reserve Bank, Lesetja Kganyago, has serious reservations about the inter-ministerial task team on the closure of bank accounts, which he warns could be viewed as political interference and could pose a risk to financial stability; and 

- a large number of suspicious transactions, including a transaction involving VR Laser Asia, and a transaction, relating to the purchase of the Optimum Coal Mine.

The court papers reveal, most importantly, 72 suspicious transactions, in the amount of R6.83 billion, all of which relate to the Guptas, or companies controlled by the Guptas. 

Of the 72 suspicious transactions, interestingly, 26 suspicious transactions, in the amount of R5.99 billion, take place after Mr Nazeem Howa, the Chief Executive Officer of Oakbay Investments (Pty) Ltd, lodged his first complaint, claiming “corporate bullying” and “anti-competitive practices”, with the Minister on 08 April 2016.

Whatever the case, we have to be sure that the suspicious transactions are being investigated by the South African Police Service.

I have already laid charges of corruption against Atul Gupta, Ajay Gupta and Duduzane Zuma, in terms of thePrevention and Combating of Corrupt Activities Act (No. 12 of 2004), at a police station in Cape Town [CAS 1200/3/2016] on 17 March 2016 and will now request them to extend their investigation into possible exchange-control violations relating to a suspicious transaction involving VR Laser Asia, as well as the other suspicious transactions, including the R1.3 billion transaction involving the purchase of the Optimum Coal Mine.

Statement issued by David Maynier MP, DA Shadow Minister of Finance, 16 October 2016