Charles King SA's owner seems to have shady past with the Guptas

The controversial Gupta family made an announcement on Wednesday that it is letting go of its Tegeta Exploration and Resources business, selling it to a Swiss-based firm - Charles King SA - for over R2.9 billion.

Amabhungane, through the #GuptaLeaks, has now revealed that the man buying Tegeta has helped the family hide their interest in the past. The family has allegedly had questionable dealings with him while in Dubai.

EWN reporter, Barry Bateman says the buyer has been identified as Amin Al Zarooni.

We understand, according to Oakbay, that this company was bought specifically as a vehicle to facilitate the investments or purchase of Tegeta mining interests.

Barry Bateman, EWN senior reporter

According to Bateman, Charles King SA was established in 2011 as a company trading in fashion - clothes and shoes. But about a month ago it changed its portfolio to include holding shares in industrial and commercial developments.

It has now been revealed that the change of portfolio was done in the same week when Mzwanele "Jimmy" Manyi was made the director of a company called Lodidox.

On Monday an announcement was made that Gupta owned-Oakbay sold its shares in the media companies to Lodidox, in a vendor-financed deal.

It appears there is a timeline correlation between getting things going to offload these assets on to other companies by the Guptas.

Barry Bateman, EWN senior reporter

To hear more of this report by Barry Bateman, listen below:


This article first appeared on 702 : Charles King SA's owner seems to have shady past with the Guptas


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
It's difficult to gage if sales a sign of Gupta SA exit - analyst

It's difficult to gage if sales a sign of Gupta SA exit - analyst

The Gupta family has sold ANN7, 'The New Age' and Tegeta Exploration and Resources in recent days.

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Why is its registered address that of a violin shop? Bruce Whitfield interviews Intellidex’s Stuart Theobald.

Gupta-linked Charles King SA's director named in Panama leaks - Barry Bateman

Gupta-linked Charles King SA's director named in Panama leaks - Barry Bateman

Oakbay sold its Tegeta mining interests to a little-known Swiss company that trades in fashion products, clothing and shoes.

Godi agrees Gigaba's incriminating Treasury report U-turn smacks of protection

Godi agrees Gigaba's incriminating Treasury report U-turn smacks of protection

Malusi Gigaba told Parliament that a report submitted to Scopa marked final is not, in fact, the final one and must be withdrawn.

The lowdown on state capture starring Anoj Singh and Eskom

The lowdown on state capture starring Anoj Singh and Eskom

Investigative journalist Sabelo Skiti helps makes sense of 'the enabler' Anoj Singh's career history and role in state capture.

Popular articles
[LISTEN] What 'The Lost Boys' lays bare about the truth of apartheid atrocities

[LISTEN] What 'The Lost Boys' lays bare about the truth of apartheid atrocities

To see 'The Lost Boys' as a book which merely exposed a paedophilia ring during the 80s is an oversimplistic view, experts explain.

ANC Tshwane says the City's mayor knew of the looted R12 billion

ANC Tshwane says the City's mayor knew of the looted R12 billion

ANC Tshwane spokesperson Bafuze Yabo gives details of their planned action against the City of Tshwane.

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Investigative journalist and author Jacques Pauw shares his thoughts on 'The Lost Boys of Bird Island' book.

'There is no verse in the Quran that says women should cover their faces'

'There is no verse in the Quran that says women should cover their faces'

Dr Taj Hargey says he is advocating for the ban of women wearing burkas in public because they look ridiculous.

[WATCH] Kid goes from 'be a fart machine at work' to 'I love you dad'

[WATCH] Kid goes from 'be a fart machine at work' to 'I love you dad'

Khabazela shares tweets & videos that have gone viral including a parrot that told firefighters the F-word during its rescue.

[LISTEN] IRR believes list of targeted farms is genuine

[LISTEN] IRR believes list of targeted farms is genuine

Institute for Race Relations researches Terence Corrigan explains why they believe the list Afriforum has released is genuine.