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