Court gives seized assets of R250m back to Guptas

The Free State High Court in Bloemfontein has ruled that nearly R250 million in assets, seized by the Asset Forfeiture Unit (AFU) must be returned to the controversial Gupta family.

These include 42 properties, several aircraft and luxury cars.

The assets were seized during a raid on the family’s Saxonwold compound, which formed part of the ongoing investigation into the Vrede dairy farm project.

The AFU maintaned the assets would be used to recoup some of the money looted from the project.

The Guptas, along with the directors of several of their companies and several Free State government employees, are alleged to have siphoned off government funds intended for the projects into Gupta accounts.

The High Court found the NPA’s application to have the assets seized contained several shortcomings and that there was uncertainty as to the exact source of the funds being moved between the implicated bank accounts.

The court ruled there are no reasonable grounds to believe a conviction on the offences they are accused of is certain.

In a separate matter, the Guptas are challenging the National Prosecuting Authority’s seizure of R180 million worth of their assets in connection with the Estina project.

The NPA alleges that funds intended for the project were laundered and placed into Bank of Baroda accounts linked to the Guptas.

– Citizen reporter

ALSO READ: Court decides if Guptas’ assets can be frozen

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