Guptas get cash, Lamborghinis, helicopter (worth R250m) back after victory

It's the third matter the State has lost now. Once is an accident. Twice is careless. Three, some people might say, is beginning to look deliberate.

Bruce Whitfield, The Money Show

The High Court in Bloemfontein has set aside the Asset Forfeiture Unit (AFU)’s R250 million restraining order obtained against several Gupta companies and their directors as well as Free State government employees.

The parties are all co-accused in the Estina dairy farm case.

They are alleged to have siphoned off government funds intended for poor farmers into Gupta accounts.

AFU secured the restraining order last month, but without the parties having an opportunity to oppose it.

The High Court considered the test for granting a restraining order and only needed to establish whether the available evidence against the parties could reasonably support a prosecution.

The court, however, found that the evidence relied on by prosecutions boss Shaun Abrahams in his application for the order showed many shortcomings which have not been explained.

It further found there was uncertainty as to the exact source of the funds being moved between the various bank accounts.

The court ruled there are no reasonable grounds to believe that the parties may be convicted of the offences as alleged and that a successful confiscation order would follow.

The Guptas' advocate Mike Hellens described the state as “recklessly incompetent”.

The assets in question include 43 homes, farms and business properties, two aeroplanes, a helicopter, a Porsche‚ a Lamborghini‚ Range Rovers and other cars and bank accounts belonging to Oakbay Investments and Sahara Computers.

The Money Show’s Bruce Whitfield interviewed EWN senior reporter Barry Bateman.

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

It’s a significant blow to the State in favour of the Guptas… this is the second preservation order that has been set aside…

Barry Bateman, EWN

This is the third time the State has failed… It’s certainly concerning… that the State has been soundly beaten by the Guptas because they failed to produce the relevant facts.

Barry Bateman, EWN

We’re back in court in August, I think...

Barry Bateman, EWN

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our mailing list

* indicates required

This article first appeared on 702 : Guptas get cash, Lamborghinis, helicopter (worth R250m) back after victory


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
Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.

What is a hedge fund?

What is a hedge fund?

The Money Show’s Bruce Whitfield interviews Fairtree Capital Portfolio Manager Jean-Pierre Verster.

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

The Money Show’s Bruce Whitfield interviews Truworths CEO, Michael Mark.

We have made progress in delivering on our promises to Marikana – Lonmin CEO

We have made progress in delivering on our promises to Marikana – Lonmin CEO

The Money Show’s Bruce Whitfield interviews Lonmin CEO Ben Magara.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

Transnet CEO Siyabonga Gama served with suspension notice

Transnet CEO Siyabonga Gama served with suspension notice

The Money Show’s Bruce Whitfield interviews Pieter du Toit, the assistant editor at News24.

Popular articles
'Even if Sarb was nationalised, govt can't change its mandate'

'Even if Sarb was nationalised, govt can't change its mandate'

EFF leader Julius Malema has introduced a bill to nationalise the South African Reserve Bank (Sarb) in Parliament this week.

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Swartz says he would have done anything to get the R1 million prize money.

'There is no way Magnus Malan could've done the things he is accused of'

'There is no way Magnus Malan could've done the things he is accused of'

Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.

Zille won't stop fighting to have SANDF property released for affordable housing

Zille won't stop fighting to have SANDF property released for affordable housing

Zille says properties under the control of the state should be made available for local government's affordable housing plans.

'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.