Moti slams allegations of illicit money-moving as ‘serious misrepresentations’

Controversial businessman Zunaid Moti has rubbished the latest report by amaBhungane, saying the “latest attack contains several serious misrepresentations and inaccuracies designed to cast his reputation into disrepute and spread disinformation to the public.”

In it’s latest report, AmaBhungane revealed how the Moti Group and controversial businessman Zunaid Moti became embroiled in alleged illicit, money-moving networks in South Africa and neighbouring Zimbabwe. 

Part one of the investigation showed how Moti‘s Zimbabwean mining operation, African Chromet Fields (ACF), allegedly became the centre of a R2 billion money-moving operation.

Loans and investments

The report further alleged artificial loans and investments were used to move hundreds of millions of rand across borders and through Moti’s companies.

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It also showed how Moti’s business empire worked with alleged underground financial operators channelling vast sums through his mining and property companies using complex smoke-and-mirrors transactions.

AmaBhungane said it was able to tie Moti to two separate money-moving operations using documentation in the so-called #MotiFiles leak and the wreckage of the doomed VBS Mutual Bank.

Moti responds

However, Moti has denied the allegations.

“This is yet another clear example of selective and biased reporting, as their writers make wild claims and draw false connections to support their highly convoluted conspiracy theories without any real evidence to back these up.

“Even worse, they have recycled a previous article published by another organisation in April, and simply embellished this tale in a blatant attempt to assassinate my character and further their personal feud,” Moti said.

Muzzling amaBhungane’

Earlier this year, the Moti Group warned the fight to stop amaBhungane from publishing stories, using the company’s leaked documents, was far from over.

This after the group was dealt a blow when the Gauteng High Court overturned a gag order against amaBhungane.

The judgment set aside a previous order preventing it from using documents leaked by a whistle-blower.

ALSO READ: Controversial businessman Zunaid Moti steps down as CEO of his firm

In a scathing ruling, Judge Roland Sutherland found the Moti Group’s application to prevent amaBhungane from reporting on and using the leaked documents was an “abuse of the process of court”.