According to reports, the Bank of Baroda has become the latest bank to tell the Gupta family that it’s planning to close its accounts. The decision comes after the family has been classed as politically exposed persons.
Meanwhile, Gupta associate Salim Essa, has sold his stake in Trillian Capital Partners to Eric Wood, after it emerged that Wood knew in advance that President Jacob Zuma was going to appoint Des van Rooyen as Finance Minister in 2015.
Corruption Watch Executive Director, David Lewis compared the Guptas situation to that of "rats in a sinking ship".
He says South Africa's banking regulations are effective and we should be thankful for that.
I can't imagine anybody who would want to be associated with the Guptas or the institutions with which they have become inescapably associated. This is a pattern of a large corruption scandal...— David Lewis Managing Director for Corruption Watch
As the fire gets hotter people try and distance themselves.— David Lewis Managing Director for Corruption Watch
People will start to spill the beans on one another to ensure they are as far from the firing line as possible.— David Lewis Managing Director for Corruption Watch
To hear more of this interview, listen below: