The former Transnet executives are charged with contravening the Public Finance Management Act and fraud, while others are charged with fraud and money-laundering.
Niven Pillay, Litha Nyhonyha, Brian Molefe and Anoj Singh in the Palm Ridge magistrate's court. File imageEleven accused are due to appear in the Transnet fraud and corruption case in the Palm Ridge specialised commercial crimes court on Friday.
They are former group CEOs Brian Molefe and Siyabonga Gama, former CFO Anoj Singh, ex-CFO Garry Pita andappear with Regiments Capital directors Niven Pillay and Litha Nyhonyha, ex-Regiments shareholder Eric Wood and his employee Daniel Roy, and Kuben Moodley, owner of Albatime, in a case involving more than 50 counts of fraud and corruption.McKinsey South Africa, was added in the case.McKinsey, who's believed to be outside the country, has also been indicted.
The former executives are charged with contravening the Public Finance Management Act and fraud, while others are charged with fraud and money-laundering. The charges relate to millions Transnet paid Trillian for organising a R30bn club loan to help buy 1,064 locomotives. It was allegedly a double payment as Transnet had already paid Regiments, where Wood was also a director, for the work. Trillian allegedly did nothing to earn the fee but invoiced Transnet.
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