Johannesburg – Former Transnet executives Brian Molefe, Anoj Singh, Siyabonga Gama, Garry Pita, and Phetolo Ramosebudi on Friday appeared before the Johannesburg High Court on charges of fraud related to contravening the Public Finance Management Act.
The former Transnet head honchos appeared alongside other co-accused including Regiments Capital Directors Niven Pillay and Litha Nyhonhya, Trillian Asset Management’s Director Daniel Roy (Novum Asset Management), Kuben Moodley, and Albatime Pty Ltd owner.
Their charges, which include fraud, corruption, and money laundering, stem from the locomotives transaction advisory tender awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1 064 locomotives valued at over R54 billion.
Allegations are that Regiments Capital was irregularly brought into the contract and benefited from Transnet’s irregular appointment, increasing the contract’s value and scope to over R305 million.
Regiments Capital services included sourcing loans from the China Development Bank and the Club loan, amounting to $2.5 billion, equivalent to R30 billion at the time, on behalf of Transnet.
Additionally, the accused also face charges related to the R93.4 payment to Trillion Asset Management in 2015.
On Friday the state put it on record that it objects to Advocate Shaun Abrahams representing Molefe in the matter, as he was the National Director of Public Prosecutions when a strategy was put in place for prosecuting the matter.
Judge Mohamed Ismail ordered both parties to resolve the matter within two weeks.
All parties agreed that the state would reply by 17 September 2024 to further particulars from the defence attorneys.
Their case was postponed to 11 October 2024 for a trial date.
Spokesperson Investigating Directorate (ID) Henry Mamothame said: The NPA’s Investigating Directorate (ID) is on course in ensuring that those allegedly responsible for state capture are held accountable and that impunity is no longer a given”.
