NPA’s court bid to freeze assets of Gupta-linked firm succeeds

The National Prosecuting Authority (NPA) has triumphed in its bid to freeze R1.6-billion value of belongings belonging to Regiments Capital, a Gupta-linked monetary advisory agency.

On Tuesday, decide Maletsatsi Mahalelo dominated in favour of the NPA to overturn a ruling that slipped out of its grasp in 2020. This after the Joburg High Court provisionally froze the belongings allegedly linked to the looting of Transnet in November 2019.

In October 2020, the excessive courtroom reversed this ruling after Mahalelo discovered that the then investigating directorate (ID) head Hermione Cronje’s failure to reveal “material facts”, when she utilized for the freezing of belongings belonging to the administrators of Regiments Capital, was a foundation to overturn the freezing order.

The courtroom has now overturned the identical ruling.

Sindisiwe Seboka, spokesperson for ID, stated in a press release on Tuesday: “The courtroom of attraction, led by decide R Keightley, ordered that the restraint order initially issued by decide Wright be different from R1.108-billion to R1.6-billion.

“However, due regard should be taken to the repayment which Regiments has made to the Transnet Second Defined Benefit Fund in the amount of R639-million. This then takes the total of restrained assets to R1.05-billion.”

In its software, the NPA indicated that Regiments and its homeowners, Litha Nyhonyha and Niven Pillay, and their former companion Eric Wood would face costs of fraud, corruption and money-laundering for his or her alleged function in a prison conspiracy at Transnet that concerned a major Gupta household affiliate Salim Essa.

Said Seboka: “The ID further stated in court papers that the funds flowed from allegations of fraud, corruption, and money-laundering arising from Regiments advisory services to Transnet in regard to the 1 064 locomotive deal.”

Chief Justice Raymond Zondo’s second installment of the State Capture Report, which coated the seize of Transnet, has discovered that Regiments Capital was unlawfully appointed as advisors to Transnet as a result of they paid Essa 30% of the charges they have been paid by the parastatal.

ID director advocate Andrea Johnson has praised the Hawks investigators and the NPA asset forfeiture personnel for the victory within the ongoing battle to recuperate belongings looted throughout state seize.

Said Johnson: “This was a tough fight, but much appreciated in the long battle against state capture. This is just the beginning of law enforcement reclaiming the state from the jaws of capture.”

Meanwhile, the ID has thus far declared 82 investigations and enrolled 20 instances with 65 accused individuals.

“This is a clear indication that the directorate is hard at work in holding those most responsible to account,” stated Johnson.

Also learn: Transnet tries to recoup R299m from Gupta affiliate Eric Wood

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Nompilo Zulu

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