Part Five: How the Guptas used their loot dailymaverick.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymaverick.co.za Daily Mail and Mail on Sunday newspapers.
Government, SOEs poured R49-billion into criminal enterprises
Paul Holden, co-founder and director of Shadow World Investigations, appeared at the Zondo commission of inquiry into allegations of state capture on Monday to give evidence on Gupta contracts with state-related entities.
Shadow World Investigations focuses on cases of grand corruption, corporate malfeasance and militarism (co-founder Andrew Feinstein was an ANC MP until his resignation in 2001 when the party refused to properly investigate the arms deal).
Holden gave a stupefying account of billions of rand paid from state-owned entities and other governmental organisations into a complex local laundromat. From here the “laundered” funds were transferred into further complex offshore arrangements in Hong Kong, China and Dubai. Ultimately, the funds ended up in Gupta-related enterprises.
MONEYWEB
app instead?
And the final pot of gold always ended up with the Guptas. 00:01
Billions in taxpayer money was awarded through tainted contracts, âlaunderedâ in SA, and moved offshore. Image: Waldo Swiegers, Bloomberg
Paul Holden, co-founder and director of Shadow World Investigations, appeared at the Zondo Commission of Inquiry into allegations of state capture on Monday (May 24) to give evidence on Gupta contracts with state-related entities.
Shadow World Investigations focuses on cases of grand corruption, corporate malfeasance and militarism (co-founder Andrew Feinstein was an ANC MP until his resignation in 2001 when the party refused to properly investigate the arms deal).