Standard Bank's Ian Sinton implicates two cabinet ministers in state capture
Standard Bank’s head of compliance Ian Sinton is the first witness from the banking sector to testify at the Zondo Commission of Inquiry into State Capture.
The commission is focusing on the closure of Gupta accounts by some of the country's biggest banks.
Sinton tells the commission that some of the bank's executives were summoned to Luthuli House to explain the decision to terminate Gupta-linked bank accounts.
He says that they were asked if they were part of the white monopoly capital oppressing black people. He adds that they were also asked if they were colluding with other banks on this because Absa at the time was also mentioning its intentions to terminate the Gupta's accounts.
This is according to a report by EWN reporter Gia Nicolaides.
They were also called to the interministerial committee meeting where the then minister Msebenzi Zwane indicated to them that government had the authority to change the laws that will prohibit them from closing the accounts.Gia Nicolaides, EWN reporter
He says the purpose of these meetings was really an attempt by Msebenzi Zwane and Mildred Oliphant to change their minds that they cannot close the Guptas accounts.Gia Nicolaides, EWN reporter
Nicolaides says Sinton directly implicated two cabinet ministers who were persuading it not to close the Guptas accounts.
He says the bank was bullied into changing their minds about closing the Guptas accounts.
To hear the rest of the report by Gia Nicolaides, listen below:
Justice Ministry spokesperson explains a precedent may be set in the SIU case to the Special tribunal starting on Tuesday.Read More
Struggle stalwart Frank Chikane was detained at the same time as Dr Neil Aggett. He recalls how brutally they were treated by police.Read More
If Jeff Bezos and Bernard Arnault – the world’s two richest men – sat on their wealth piled up in $100 bills, they’d be in space!Read More
#OpenNSFAS rep Kabelo Mahlobgwane says the application deadlines must be scrapped so late-accepted students can receive funds.Read More
Legal journalist Karyn Maughan explains the SIU's special tribunal's first case staring on Tuesday.Read More
Almost 38 years after his death, a fresh investigation into the death of anti-apartheid activist Neil Aggett has been opened.Read More
The lesbian couple has launched a case with the SA Human Rights Commission after the venue refused to host their wedding.Read More
"… we are definitely going to participate in the 2021 local government elections...," says former Joburg mayor Herman Mashaba.Read More
She allegedly did it without President Cyril Ramaphosa’s permission, as required by the Ministerial Handbook.Read More