Going to be hard to look the other way - Steven Powell on FBI probing Guptas

The Federal Bureau of Investigation (FBI) is investigating cashflows related to multi-million-rand contracts the Guptas allegedly secured for Transnet suppliers.

Amabhungane revealed in July how the Gupta leaks exposed the controversial family as acting as brokers to facilitate contracts for key state-owned entities.

The FBI will focus on Ashish and Amol Gupta, who are US citizens and nephews of Atul and Ajay Gupta.

The Gupta leaks revealed how in 2014, a Transnet crane supplier paid nearly R30 million into a Gupta front company based in Dubai called Accurate Investments to secure a contract.

The records show that Accurate then transferred funds into Ashish and Amol's Texas-based company’s JP Morgan Chase bank account in New York.

The Money Show’s Bruce Whitfield interviewed Lord Peter Hain (Visiting Adjunct Professor at Wits Business School) and Steven Powell (Director in Forensics at ENS Africa).

Listen to the interviews in the audio below (and/or scroll down for quotes from it).

The whistle-blowers are absolutely convinced that HSBC, Standard Chartered and Bank of Baroda… are almost certainly the main ones through which this money would’ve been laundered.

Lord Peter Hain

There’s real concern in Britain that certain British entities… are getting embroiled…

Lord Peter Hain

All these banks… are based in Britain, and globally… But they fall under UK jurisdiction…

Lord Peter Hain

The penalties would be very stringent…

Lord Peter Hain

The US has been the most robust enforcer of corruption violations around the globe.

Steven Powell, ENS Africa

A lot of people in South Africa are going to be very nervous.

Steven Powell, ENS Africa

Political will in South Africa is lacking.

Steven Powell, ENS Africa

It’s going to be difficult to look the other way.

Steven Powell, ENS Africa

The tide is turning in South Africa…

Steven Powell, ENS Africa

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


This article first appeared on 702 : Going to be hard to look the other way - Steven Powell on FBI probing 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
Where should government invest with small businesses?

Where should government invest with small businesses?

The Money Show’s Bruce Whitfield interviews Allon Raiz, CEO at Raiz Corp on government focus with small businesses.

Waiting for the Ramaphosa rise – where is the stock market growth?

Waiting for the Ramaphosa rise – where is the stock market growth?

The Money Show’s Bruce Whitfield interviews Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital.

Pick n Pay's turnover for the year is around R82 billion

Pick n Pay's turnover for the year is around R82 billion

The Money Show’s Bruce Whitfield interviews Richard Brasher CEO at Pick n Pay on its growth.

Nene: SA needs a lot of structural reform to capitalise on global growth

Nene: SA needs a lot of structural reform to capitalise on global growth

The Money Show’s Bruce Whitfield interviews Finance Minister at Treasury Nhlanhla Nene on the IMF and World Bank Group meetings.

Get the best bits of ‘The Money Show’ emailed to you daily, right after it ends

Get the best bits of ‘The Money Show’ emailed to you daily, right after it ends

Do you enjoy listening to Bruce Whitfield’s The Money Show, but miss it sometimes?

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The Money Show’s Bruce Whitfield interviews amaBhungane Centre for Investigative Journalism Investigative Journalist Craig McKune.

Popular articles
Why many couples today are struggling with marriage

Why many couples today are struggling with marriage

Dr Eve advises that many modern couples need marriage to be a safe space for self-expression and self-actualisation.

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

AfriForum not backing down over decision to privately prosecute Julius Malema.

'They shot out the tyres and they shot the victim'

'They shot out the tyres and they shot the victim'

EWN's Mandy Weiner describes an eyewitness account of one of the two shootings on Johannesburg's highways on Wednesday.

Cape Town not out the woods yet even with recent rainfall

Cape Town not out the woods yet even with recent rainfall

Climate expert, Piotr Wolski, says the city will know towards the end of May whether 2018 is a good or bad year.

Where is Zuma going to get this 'tsunami' of legal fees?  - Karyn Maughan

Where is Zuma going to get this 'tsunami' of legal fees? - Karyn Maughan

The Presidency has now officially withdrawn its application for leave to appeal the personal costs order against Jacob Zuma.

Water to be released from Berg River to Misverstand Dam to avoid Day Zero

Water to be released from Berg River to Misverstand Dam to avoid Day Zero

Government has put plans in place to prevent the Misverstand Dam from running dry in a week's time.

Highly-criticised world athletics body's rule could end Caster Semenya's career

Highly-criticised world athletics body's rule could end Caster Semenya's career

She faces ongoing complaints from rivals about having an "unfair advantage" on the track, but how fair is this proposed IAAF rule?