Wednesday, 18 September, 2019

Gupta Brothers' Assets to be Frozen in South Africa Over Corruption Scandal

Gupta Brothers' Assets to be Frozen in South Africa Over Corruption Scandal Gupta Brothers' Assets to be Frozen in South Africa Over Corruption Scandal
Patty Aguilar | 20 January, 2018, 18:14

Gupta-linked company Trillian and worldwide consultancy firm McKinsey have been identified in a preservation order obtained by the AFU.

Separately, parliament is investigating whether McKinsey knowingly let funds from Eskom be diverted to Trillian as a way of securing the contract. The businesses of the Gupta brothers - Ajay, Rajesh and Atul - are also linked to President Jacob Zuma and other senior politicians like Minister of Mineral Resources Mosebenzi Zwane.

The December 14 order, obtained by the NPA in the North Gauteng High Court in Pretoria, implicates Gupa-linked companies.

It is one of the first instances in which the government has acted publicly against the brothers, who an anti-corruption watchdog has accused of using their friendship with Zuma to siphon off public funds.

"Eskom's counsel informed us in October 2017 that Eskom executives had acted unlawfully by failing to secure the appropriate approvals for the turnaround programme contract (with McKinsey)".

Deputy President Cyril Ramaphosa was elected last month to replace Zuma as leader of the ruling African National Congress, putting him in pole position to become South Africa's next president.

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New England will do their job on defence, and the chance of another 40-plus scoreline in the Jacksonville column is close to zero. Bouye manning the cornerback spots along with Barry Church and Tashaun Gipson at strong safety and free safety, respectively.

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Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Management reported 89,200 shares. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock.

On Tuesday, NPA spokesperson, Luvuyo Mfaku confirmed that the preservation order will be served on Trillian and McKinsey for assets worth the ordered amount; Mfaku said the order relates to consultancy work done by the companies for Eskom and Transnet. We have no interest in being party to a contract entered into unlawfully by Eskom‚ and have written to them five times asking them to initiate the necessary proceedings before the court.

Privately-held McKinsey, one of the world's largest management consultancies, has already lost several clients over the contract.

Dordel emphasised that Trillian failed McKinsey's due diligence and so it terminated discussions with the company about a supplier development partnership in March 2016.

Zuma this month said he would set up a commission of enquiry into allegations of influence-peddling by the Gupta brothers.

Trillian did not respond to a request for comment from Reuters on Monday. Zuma's spokesman did not reply to a Reuters request for comment.

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