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:
Incumbent Grant Twigg is being challenged for the position of DA metro chair by current Cape Town mayor Dan Plato.Read More
Angelo Agrizzi's lawyer claims doctors spent the night trying to stabilise his client. Author and journo Mandy Wiener says the NPA could potentially lose a key State witness.Read More
The minutes of a 2017 Baboon Technical Team meeting reveal iCWild's Justin O’Riain argued all male baboons will be 'raiders.'Read More
Did you know that in terms of the AARTO Act draft regulations you will pay an additional R100 on every traffic fine you receive?Read More
Mayco member for Transport Felicity Purchase outlines plan to repair these and says the repairs are being spread across the city.Read More
Bruce Whitfield interviews amaBhungane investigative journalist Dewald van Rensburg about his new book, "VBS: A Dream Defrauded".Read More
Advocate Thuli Madonsela has set a cat among the pigeons with her idea. Richard Calland (UCT Public Law) is not impressed.Read More
Cape Town Fire Chief Ian Schnetler advocates against arming emergency crews as it will cause them to be targeted even more.Read More
Dr Mkhize tweeted on Sunday night that he had been feeling 'abnormally tired.'Read More
Former president Jacob Zuma condemns the Zondo Commission's reported attempt to target his children as 'utter cowardice'.Read More