Brian Molefe, Anoj Singh in court over Transnet corruption

Henry

Former CEOs of Transnet, Brian Molefe, Anoj Singh, Siyabonga Gama, Garry Pita and Phetolo Ramosebudi appeared in the Johannesburg High Court on Friday on charges of breaching the Public Financial Management Act (PFMA) and fraud.

Joining them in court were Regiments Capital directors Niven Pillay and Litha Nyhonhya, Trillian Asset Management’s director Daniel Roy (Novum Asset Management), and Kuben Moodley, the owner of Albatime Pty Ltd.

“The case has been postponed until 11 October 2024 to determine the court date,” says Henry Mamothame, spokesman for the National Prosecuting Authority’s (NPA) investigation directorate.

All parties agreed that the state would respond by September 17, 2024 to hand over further details to the defense.

“The state filed an objection against Adv. Shaun Abrahams’ representation of Brian Molefe in the case. He was the national director of public prosecutions when a strategy was drawn up to prosecute the case. Judge Mohamed Ismail ordered both parties to resolve the issue within two weeks.”

The group is facing charges of fraud, corruption and money laundering. This stems from a tender that was awarded to the McKinsey-led consortium in 2012 to acquire 1,064 locomotives amounting to more than R54 billion.

Regiments Capital became irregularly involved in the contract and profited from Transnet’s unlawful appointment. The contract’s value was increased by more than R305 million.

This agreement included, among other things, the acquisition of the China Development Bank loan and the Club Loan which at the time amounted to an amount of $2.5 billion (R30 billion at the time).

The accused are also facing charges related to the R93.4 million paid to Trillian Asset Management in 2015.

“The NPA’s investigation directorate will ensure that those who were allegedly responsible for state capture are held accountable.”

All the accused are expected to appear in court again in October.