Five former Transnet executives, including Siyabonga Gama, arrested for corruption

Five former senior Transnet executives have been arrested by the NPA’s Investigating Directorate (ID) and the Hawks on Friday morning in the East Rand.

The arrests took place around 7am at the Brackendowns Police Station, according to the spokesperson for the ID, Sindisiwe Seboka.

Former Transnet CEO arrested

One of the five accused is former Transnet CEO Siyabonga Gama.

The other four are:

• Eric Wood, from the Gupta-linked companies Regiments Capital and Trillian Capital Partners;
• Garry Pita, former acting Group Chief Financial Officer;
• Phetolo Ramosebudi, former group Treasurer;
• Daniel Roy, Trillian Asset Management director.

The group is charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering.

They are expected to appear at the Palm Ridge Magistrate’s Court sitting as the Specialised Commercial Crimes Court.

State capture report

In part two of the state capture commission’s report, Chief Justice Raymond Zondo recommended the prosecution of Gama, Wood, former Transnet CEO Brian Molefe and chief financial officer Anoj Singh – among others – for corruption over the capture of Transnet by the Guptas and their associates.

According to the report, Molefe, Singh and Gama were the “primary architects and implementers of state capture at Transnet” that started in 2009.

The corruption allegations the three face, among others, relate to:

• Breaching the Public Finance Management Act and deviating from Treasury procurement regulations;

• Cash bribes accepted from the Gupta family between 2010 and 2018; and

• Misleading Transnet’s board about a multi-billion rand locomotive contract.

This is a developing story. More to follow.

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