The fraud and corruption case against former Transnet executives has been postponed to November 30 to allow the state to provide the defence team with more details on the docket.
The group, including former Transnet CEOs Brian Molefe and Siyabonga Gama, former chief financial offer Anoj Singh, and former group treasurer Phetolo Ramosebudi, appeared at the Palm Ridge Specialised Commercial Crimes Court on Friday.
They face fraud and corruption charges related to the parastatal’s controversial procurement of 1 064 locomotives.
In a statement on Friday, the National Prosecuting Authority said: “The accused have been furnished with the draft charge sheet. Arrangements have been made to fully disclose the contents of the voluminous docket. The accused are charged with contravention of the PFMA [Public Finance Management Act], fraud, corruption, and money-laundering.
“McKinsey and Companies SA, represented by employee Goitseone Mangope, Regiments Capital directors Niven Pillay and Litha Nyhonhya, former group chief financial officer Garry Pita, Regiments shareholder Eric Wood, Trillian Asset Management current director Daniel Roy [Novum Asset Management], and Kuben Moodley, Albatime owner, are also implicated in the matter.
“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 onboarded and ended up benefitting from the irregular appointment by Transnet in respect of the contract.
“The contract value and scope for the services required was later escalated to more than R305-million. This agreement included, amongst other services, the sourcing of the China Development Bank loan and the club loan which were in the amount of $2.5-billion on behalf of Transnet [equivalent to R30-billion at the time].”
The accused, who are currently out on bail, also face charges linked to the R93.4-million paid to Trillian Asset Management in 2015.
Also read: Former Transnet bigwigs Molefe and Singh out on bail for fraud
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