A R2bn preservation order sought by the NPA will include Tegeta shares partly owned by Duduzane Zuma
Atul Gupta at his family's compound in Saxonwold. The property is now in the hands of the state.The National Prosecuting Authority has set its sights on the Gupta-owned Optimum Coal Mine , which is in business rescue, in an ambitious plan to have it forfeited to the state as proceeds of crime.
If the order is granted, this will be the most valuable Gupta asset in the SA government’s hands since the state capture scandal broke. Other Gupta assets frozen by the state include a private jet; a house in Saxonwold, Johannesburg; and one in Constantia, Cape Town. In an affidavit filed by Hermione Cronje, head of the NPA’s Investigative Directorate, the authority stakes its claim to R1.3bn arising from coal prepayments and loans belonging to UK-based Templar Capital. These were ceded to it by a Bermuda-based company, Centaur Venture Ltd , last June.
“The purpose of the preservation order sought is to ensure that the property is preserved pending the outcome of an application for a forfeiture order in terms of section 48 of the POCA . In terms of section 40 of the POCA, such an application must be brought within 90 days of the publication of the preservation order in the Government Gazette,” Cronje said in the papers.
R152m loan from Trillian Management Consulting, a company belonging to another Gupta fixer, Salim Essa, that was paid R600m by Eskom despite not having a contract;R100m in residual funds in Tegeta’s Bank of Baroda account derived from multiple sources
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