There has been no announcement from the company of any major transaction or development that would explain why it would suddenly have close to R1-billion move through its accounts.— Stuart Theobald, Intellidex
We see shadows against the wall and we’re trying to work out what causes those shadows.— Stuart Theobald, Intellidex
Oakbay has cash flows in the tens of millions per year. Then suddenly there are transactions of over a billion rand in two months.— Stuart Theobald, Intellidex
The Gupta family’s Oakbay Resources is under investigation for five transactions totalling just under R1 billion after being highlighted as suspicious by banks.
The R1 billion forms part of the R6.8 billion in Gupta transactions referred to the Financial Intelligence Centre.
The notice by the banks was in terms of the Financial Intelligence Centre Act which is used to combat tax fraud and money laundering.
The Money Show’s Bruce Whitfield interviewed Intellidex Chairperson Stuart Theobald.
Listen to the audio below in which Theobald shares his take on all this.
Recommendedby NEWSROOM AI
The former JSE CEO took out an ad in Business Day with 15 other business leaders to defend Minister Pravin Gordhan.
“It will be a train smash… unless the malicious prosecution is halted,” says Hirsch.
Did someone take a big position against the rand before the NPA announced its charges against Finance Minister Pravin Gordhan?
The Money Show’s Bruce Whitfield interviews Financial Mail Deputy Editor Sikonathi Mantshantsha.
"Issue the report at your own risk…” - Ajay Gupta threatens Pulic Protector Thuli Madonsela through his lawyers.
The Money Show’s Bruce Whitfield interviews Investment Solutions Chief Economist Lesiba Mothata.
Swartz says he would have done anything to get the R1 million prize money.
Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.
Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.
These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.