'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.


This article first appeared on 702 : 'We see shadows against the wall and we’re trying to work out what causes them'


Recommended

by NEWSROOM AI
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
Dr Eve busts myths about the female orgasm that could change your sex life

Dr Eve busts myths about the female orgasm that could change your sex life

As many as 1 in 3 women have trouble reaching orgasm when having sexual play, clinical sexologist Dr Eve explains.

The Man of the Mountain: Why I'm climbing Table Mountain every day for a year

The Man of the Mountain: Why I'm climbing Table Mountain every day for a year

After being retrenched last year Andrew Patterson decided he wanted to do something more fulfilling with his time.

If you go down to the Spar today...join SA's biggest pajama party!

If you go down to the Spar today...join SA's biggest pajama party!

Spar customers are being encouraged to head out for the weekly shop in their PJs today and you get a free coffee in return!

'Impossible to think violent protests in CPT are anything other than political'

'Impossible to think violent protests in CPT are anything other than political'

Just this week WC Human Settlements MEC Bonginkosi Madikizela said he believed the protests were being 'orchestrated'.

How much you need to retire ‘comfortably’ (and the best ‘investment’ ever)

How much you need to retire ‘comfortably’ (and the best ‘investment’ ever)

For your assets to generate an income that lasts as long as you do; here’s what you’ll need to amass (and tips for getting there)…

'Sexting is a great way to keep spice in long distance relationships'

'Sexting is a great way to keep spice in long distance relationships'

With the help of technology and a good imagination, sex in a long distance relationship doesn't have to be out of reach.