'We see shadows against the wall and we’re trying to work out what causes them'

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.

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

Read More
‘It’s difficult to imagine they are South Africans!’ - Russell Loubser

‘It’s difficult to imagine they are South Africans!’ - Russell Loubser

The former JSE CEO took out an ad in Business Day with 15 other business leaders to defend Minister Pravin Gordhan.

SA economy on verge of disaster - Presidential economic advisor Prof Alan Hirsch

SA economy on verge of disaster - Presidential economic advisor Prof Alan Hirsch

“It will be a train smash… unless the malicious prosecution is halted,” says Hirsch.

Rumour has it someone took a big currency position before the NPA charged Pravin

Rumour has it someone took a big currency position before the NPA charged Pravin

Did someone take a big position against the rand before the NPA announced its charges against Finance Minister Pravin Gordhan?

5 reasons why you should care about the NPA’s charges against Pravin Gordhan

5 reasons why you should care about the NPA’s charges against Pravin Gordhan

The Money Show’s Bruce Whitfield interviews Financial Mail Deputy Editor Sikonathi Mantshantsha.

Gupta lawyer Gert van der Merwe explains his position on state capture report

Gupta lawyer Gert van der Merwe explains his position on state capture report

"Issue the report at your own risk…” - Ajay Gupta threatens Pulic Protector Thuli Madonsela through his lawyers.

Here’s what’ll likely happen to your money if Pravin Gordhan is arrested

Here’s what’ll likely happen to your money if Pravin Gordhan is arrested

The Money Show’s Bruce Whitfield interviews Investment Solutions Chief Economist Lesiba Mothata.

Popular articles
Grace Mugabe invokes diplomatic immunity as Zim-SA relations get tense

Grace Mugabe invokes diplomatic immunity as Zim-SA relations get tense

Grace is still in South Africa and her husband, Zimbabwean President Robert Mugabe, is due to land in the country this afternoon.

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Cyril Ramaphosa's ex-wife says abuse allegations spread by EFF leader Julius Malema are an attempt to tarnish his reputation.

Bob Mugabe flying in, could sort out his wife's legal woes

Bob Mugabe flying in, could sort out his wife's legal woes

Political analyst David Monyae says this puts everyone including President Jacob Zuma and Robert Mugabe in an awkward situation.

Advanced communication system for Cape's neighbourhood watches

Advanced communication system for Cape's neighbourhood watches

The system allows neighbourhood watches to relay incidents, post warnings or request emergency assistance.

Grace Mugabe has a history of violence

Grace Mugabe has a history of violence

Mail & Guardian Africa editor, Simon Allison says the recent incident of violence by Grace Mugabe is certainly not the first.

Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

The Money Show’s Bruce Whitfield interviews the advertising expert about the best and worst new advertisements.

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

Gabriella Engels says she is saddened by people who are calling her names on Twitter before they understand the full story.

Discovery CEO (and founder) Adrian Gore bares his soul about money

Discovery CEO (and founder) Adrian Gore bares his soul about money

The Money Show’s Bruce Whitfield interviews Gore about his attitude to money (hopes and fears, successes and failures, etc.).