Goitseone Mangope at the Palm Ridge Specialised Commercial Crimes Court on 30 September 2022. Photo: Investigating Directorate (ID)
The Investigating Directorate (ID) has added McKinsey SA to its R398.4 million Transnet case.
The ID said McKinsey SA is represented by Vigas Sagar, its former Principal, and employee Goitseone Mangope.
Sindisiwe Twala Seboka, Investigating Directorate spokesperson, said Sagar will stand accused in his personal and representative capacity, while Mangope stands as the current representative of the company.
“The Palm Ridge Specialised Commercial Crimes Court deferred the matter to 14 October 2022 where Mangope will join his co-accused.”
Corruption accused Brian Molefe, Anoj Singh and two others were arrested earlier this month and are among 11 that have appeared in the Palm Ridge Specialised Commercial Crimes Court.
ALSO READ: Gupta associate Eric Wood allowed to travel to Europe despite fears he may not return
The former Transnet executives and their co-accused are charged with contravention of the Public Finance Management Act and fraud, while the other accused are charged with fraud, corruption and money laundering.
They were released on R50 000 bail each.
Seboka said the group is arraigned on charges stemming from a Transnet tender which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1 064 locomotives worth over R54 billion.
“Regiments Capital was irregularly onboarded and ended up benefitting from the irregular appointment by Transnet in respect of the contract. The contract value and scope for the services required was later escalated to more than R305 million.
“This agreement included, among other services, the sourcing of the China Development Bank loan and the Club loan which were in the amount of $2.5 billion, on behalf of Transnet (equivalent to R30 billion at the time). The accused also face charges linked to the R93.4 million paid to Trillian Asset Management in 2015,” she said.
Seboka said Eric Wood, who applied for the relaxation of his bail conditions on 7 September 2022, is expected to return to South Africa on Friday from the United Kingdom and Spain.
ALSO READ: Brian Molefe, Anoj Singh, two others granted bail of R50 000 each
Download our app and read this and other great stories on the move. Available for Android and iOS.
