How the Guptas allegedly received billions in kickbacks – report
Gupta front companies had allegedly already received at least R3.7 billion by late 2016.
Ajay and Atul Gupta. File photo
Records seen by AmaBhungane have reportedly shown R9 billion in kickbacks allegedly paid or pledged to the controversial Gupta family and their associates.
Though the kickbacks were paid by two Chinese locomotive manufacturers, now merged to form the huge CRRC Corporation, a Beijing-based company which is now the largest supplier of rail equipment in the world, the money allegedly came from South Africans through Transnet.
This came from orders for 95, 100, 359, and 232 locomotives, in addition to relocation and maintenance add-ons, with an aggregate value of about R42 billion.
Effective from 3 August 2016, when the country held municipal elections, CRRC allegedly amended earlier kickback agreements in relation to the 95, 100, and 359 locomotive orders.
Gupta front companies had allegedly received at least R3.7 billion by late 2016, the investigative publication reported on Monday.
CRRC and the Guptas could not be reached for comment.
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