Bank of Baroda branches raided by Hawks in state capture probe

News24 reports the Hawks, as part of their investigations into state capture, are conducting search and seizure operations at the Sandton and Durban branches of the Bank of Baroda.

The Hawks reportedly seek to seize documentation, equipment and other relevant articles relating to the investigation.

The website quoted the Hawks’ papers as follows: “There has been public outcry as to the alleged misuse and/or theft of state-owned enterprises [SOEs], where it appears that these monies are channelled to specific companies in the private sector.”

“The Bank of Baroda was one of the entities the public had complained about as having received illicit funds and then channelled them either directly or indirectly to the Gupta family and/or companies associated with them.

“It is necessary to set out the involvement of Bank of Baroda with the receiving and transferring of funds received from either SOEs and/or entities under investigations, where such entities and/or individuals were not entitled to those funds.”