Johannesburg - Transnet’s R93 million corruption case implicating former chief executive Siyabonga Gama and two other former senior executives, has been postponed to August 29, 2022.
The matter sitting at the Palm Ridge Specialised Crimes Court implicates Gama, former acting 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, the owner of Albatime Pty Ltd.
The matter was back in court on Tuesday since the last sitting in September 2021. The accused are charged with contravention of the PFMA, fraud, corruption and money laundering.
The alleged corruption dates back to 2012 when Transnet went on a request for a proposal tender to get transaction advisory services to secure funding for R30bn.
These funds were meant to fund the acquisition of 1 064 locomotives.
In May 2015, Transnet then appointed JB Morgan for advisory services and between July-October 2015 the same officials in Transnet had started facilitating the termination of the JB Morgan contract.
This cancellation was a result of the officials making the decision to appoint Trillian in October 2015.
An invoice of R93.4m was then submitted by Trillian through Daniel Roy, who served as a director to Trillian and the invoice was approved by Pita and Gama, and payment was made on December 3, 2015, to Trillian’s account.
Three days after payment was received, R74m was paid to Albatime, owned by Moodley, without any reason according to the Investigative Directorate.
Prior to the payment of R74m, a payment was made by Transnet to Regimens for R189m in June 2015 for the alleged same services.
The matter has been postponed to allow for further investigation.
IOL