In our first exposé from the #GuptaLeaks, we show how the president’s friends and their associates are diverting billions of rand from Transnet’s purchase of locomotives to their offshore accounts. By AMABHUNGANE and SCORPIO.
In a scheme so audacious and lucrative that it puts the notorious arms deal to shame, they:
Entered kickback agreements totalling R5.3-billion with the Chinese manufacturer that became Transnet’s favourite locomotive supplier;
Influenced procurement processes through their associates at Transnet;
Are pocketing R10-million from each R50-million locomotive that Transnet is buying.
This story presents the most direct evidence yet of the Guptas and their associates amassing fortunes offshore by tolling contracts at state-owned entities they control.
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