Former Transnet G CEO Brian Molefe and co-accused out on R 50K bail each
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Photo: NPA
Investigating Directorate National Spokesperson Sindisiwe Seboka says that more arrests are eminent in relation to alleged corruption that occurred in Transnet years ago particularly during the reign of former Group CEO Brian Molefe’s tenure.
SA woke up to breaking news of the arrest of Group Chief Executive of Transnet Brian Molefe, former Group Chief Financial Officer Anoj Singh, Regiments Capital Directors Niven Pillay and Litha Nyhonhya Monday by the Hawks.
The two accused former executives are charged with contravention of the PFMA and fraud, while the other accused are charged with fraud, corruption and money laundering.
“The group are arraigned on charges stemming from the locomotives transaction advisory tender which was awarded to the McKinsey led consortium in 2012, resulting in the procurement of 1064 locomotives worth over R54 billion. Regiments Capital was irregularly on boarded and ended up benefitting from the irregular appointment by Transnet in respect of the contract. The contract value and scope for the services required was later escalated to more than R305 million.”
“This agreement included, amongst other services, the sourcing of the China Development Bank loan and the Club loan which were in the amount of $2.5 billion, on behalf of Transnet (equivalent to R30 billion at the time). The accused also face charges linked to the R93.4 million paid to Trillian Asset Management in 2015.”
The made a brief appearance at the before the Palm Ridge Specialised Crimes Court same day and were all released on R 50 000 bail each.
Seboka added that the accused join former Group Chief Executive of Transnet Siyabonga Gama, former Group Chief Financial Officer Garry Pita, former Group Treasurer Phetolo Ramosebudi, Regiments shareholder Eric Wood, Trillian Asset Management current Director Daniel Roy (Novum Asset Management) and Kuben Moodley, Albatime Pty Ltd owner.
The state further issued warrants of arrest for Salim Essa and Ashok Narayan who is currently out of the country. All of the accused are expected to return to court on the 14 October 2022.
