Former high-ranking Transnet executives Brian Molefe and Anoj Singh were on Monday granted R50 000 bail each by the Palm Ridge Specialised Commercial Crimes Court.
The former executives appeared briefly in court following their arrest by the Hawks earlier in the day.
Molefe, the then CEO of the state-owned entity, and Singh, the entity’s former finance chief, have been linked to the R93-million procurement of 1 064 locomotives in 2015.
They are among a group of four people who were dragged to the courtroom to answer to charges of fraud and corruption before their case was postponed to October 14.
Their arrest follows that of five other people, including former Transnet CEO Siyabonga Gama, who were nabbed and charged with fraud in May.
Media reports say the arrest of Molefe and Singh came as a result of the R93-million payment to Trillian Capital, a company linked to the infamous Gupta family that sought to get capital to buy the locomotives.
Before the contract was awarded to Trillian Capital, it was granted to a global investment banking group JP Morgan.
However, the contract was later canned and the estimated expenditure on the project skyrocketed from R38-billion in 2012 to more than R50-billion.
For more business news from Sunday World, click here.
Follow @SundayWorldZA on Twitter and @sundayworldza on Instagram, or like our Facebook Page, Sunday World, by clicking here for the latest breaking news in South Africa. To Subscribe to Sunday World, click here
