Kuben Moodley was granted R150 000 bail by the Palm Ridge Specialised Court on Wednesday.
Johannesburg - Kuben Moodley, an alleged Gupta middleman in the Transnet, Regiments Capital and Trillian corruption saga was granted bail of R150 000 by the Palm Ridge Specialised Court on Wednesday.Moodley stands accused in his personal capacity and as a representative of Albatime Pty Ltd for offences involving R307 million between June 2012 and 2017 on several counts of charges of fraud, theft and money laundering.
Seboka said the money laundering charges relate to the proceeds received into two Albatime business bank accounts, one held at Absa and the other at the Bank of Baroda, from contracts improperly awarded by Transnet to Regiments Capital and Trillian Capital, as well as theft by Regiments Fund Managers from the Transnet Second Defined Benefit Fund.
Moodley is also accused of using these proceeds to assist members of the Gupta family to acquire Optimum Coal Mine for Tegeta.
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