Head of the National Prosecuting Authority’s Investigative Directorate Hermione Cronjé. (Jan Gerber/News24)
- The Investigating Directorate has been granted an order restraining alleged Gupta “fixer” Kuben Moodley and his letterbox company, Albatime, from dealing with R232 million worth of assets.
- Advocate Hermione Cronje brought the urgent application on 10 June after the state capture commission released approximately R20 million worth of liquid assets held in safe deposit boxes.
- It is alleged Moodley and his company received the kickbacks from the Regiments Group of Companies relating to contracts that were improperly awarded by Transnet and by the Transnet Second Defined Benefit Fund.
The National Prosecuting Authority’s Investigating Directorate (ID) has been granted an order which restrains alleged Gupta “fixer” Kuben Moodley and his letterbox company, Albatime, from dealing with R232 million worth of assets.
This is the amount the ID alleges Moodley and his company received as kickbacks from the Regiments Group of Companies relating to contracts that were improperly awarded by Transnet and by the Transnet Second Defined Benefit Fund (TSDBF).
According to an amaBhungane investigation, Moodley introduced the chief executive of Regiments Capital, which was then an up-and-coming black-owned financial and advisory group, to businessman Salim Essa in 2012.
Following this, Essa opened doors at Transnet and other state-owned entities, where Regiments landed deals worth roughly R1 billion.
amaBhungane reported for simply making the introduction, Regiments agreed to pay Moodley’s company, Albatime, up to 5% of every Essa-orchestrated deal.
Urgent application
ID national spokesperson Sindisiwe Twala said in a statement on Monday these payments were allegedly made solely as a reward for their unlawful involvement in a corrupt scheme to benefit at the expense of the public purse.
Twala said ID head advocate Hermione Cronje brought the urgent application on 10 June in the Gauteng High Court in Johannesburg.
Cronje made out a case for an urgent restraint order on the basis the state capture commission had released approximately R20 million worth of liquid assets held in safety deposit boxes into Moodley’s custody. The contents of the safe deposit boxes were seized a year ago.
Judge Shanaaz Mia ruled Moodley was barred from using or disposing of the assets. He is also expected to surrender the property to a court appointed curator bonis in terms of Section 26 of the Prevention of Organised Crime Act 121 of 1998.
“This order shall be executed under the supervision of the curator bonis. Representatives of the applicant may accompany the curator bonis in order to represent the applicants’ interest in the execution of this order,” Mia said.
Interim restraint order
Curator Mike Stewarts of Bombani Liquidators and Trustees, who was appointed by the Master of the High Court in Johannesburg, will hold the assets.
The order follows on the interim restraint order granted against Regiments to the value of approximately R1.6 billion.
Judgment in the Regiments case’s final restraint order has been reserved.
