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 THE NEWSROOM
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.
EWN reporter Shamiela Fisher says 77-year-old Rust took care of one of the accused and supported him and his family financially.
Senior investigative journos unravel the Estina Dairy Farm scandal and how the suspects fit into the bigger state capture project.
The President met with the people of Cape Town while on a 5 kilometre morning walk from Gugulethu to Athlone.
Huffington Post editor in chief shares her view on the SONA debate with Bongani Bingwa.