Four people, including two former Transnet senior officials, have appeared in the Palm Ridge Specialised Commercial Crimes Court for their alleged role in the multimillion-rand Transnet locomotives tender scandal.
Former Transnet Group Chief Financial Officer Anoj Singh;Molefe and Singh are facing charges of contravention of the Public Finance Management Act and fraud, while Pillay and Nyhonhya are facing charges of fraud, corruption and money laundering.
“Transnet is considered one of the primary sites of massive looting of State funds at the peak of the State capture project. Today’s arrest and court appearance of additional senior executives reflects a significant milestone and outcome of our complex investigations. “The group are arraigned on charges stemming from the locomotives transaction advisory tender which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1 064 locomotives worth over R54 billion. Regiments Capital was irregularly on boarded and ended up benefitting from the irregular appointment by Transnet in respect of the contract.
Molefe, Singh, Pillay and Nyhonhya were granted bail following their appearance and are expected back in court in October.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH | Molefe, Singh granted bail, case postponedFour former Transnet executives have each been granted R50,000 bail. Former Transnet CEO Brian Molefe and CFO Anoj Singh were among those arrested this morning by the NPA's Investigating Directorate and the Hawks.
Read more »
Four former Transnet executives granted bail of R50 000 each - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Brian Molefe is among the four former Transnet senior executives who have been granted bail of R50 000 each. They face charges relating to the purchase of over 1000 locomotives in 2015.
Read more »
Four people arrested in connection with state captureFour people arrested in connection with state capture - Two former Transnet executives and two Regiments Capital officials were arrested on Monday morning
Read more »
UK bank pushes four-day week as future of working lifeAs some bosses push for a return to the office, there is increasing evidence suggesting flexible work is here to stay
Read more »
Four more people arrested in connection with state captureFour people arrested in connection with state capture: Two former Transnet executives and two Regiments Capital officials were arrested on Monday morning
Read more »