Popo Molefe slams Gigaba for appointing 'architects of capture' in Transnet 'horror show' | Fin24
Transnet ended up paying more than it should have for the locomotives, Molefe told the commission.According to Molefe, the directors had used Transnet like a piggy bank - only they took out more money than they put back in.
"They diverted funds to various entities through nefarious methods of inflating prices, changing the scope of contracts to justify increases in costs and the use of advisory services," Molefe said.He named Gupta-linked Trillian Capital Partners as an example of a company which was paid for work which had not been done for Transnet.
Molefe said that more individuals had come forward with issues that must be investigated at Transnet, which the board had been willing to look into."This augers well in the process of changing culture, rebuild the institution and to restore public confidence in state owned companies," he said.
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