Johannesburg - Kuben Moodley, an alleged Gupta middleman in the Transnet, Regiments Capital and Trillian corruption saga was granted bail of R150 000 by the Palm Ridge Specialised Court on Wednesday.
The matter was postponed to February 28, 2022 for further investigations.
Moodley stands accused in his personal capacity and as a representative of Albatime Pty Ltd for offences involving R307 million between June 2012 and 2017 on several counts of charges of fraud, theft and money laundering.
Investigating Directorate (ID) spokesperson Sindisiwe Seboka said the court ruled that he should report twice to the Sandton Police Station on Mondays and Fridays between 6am - 6pm and hand over his passport.
Seboka said the money laundering charges relate to the proceeds received into two Albatime business bank accounts, one held at Absa and the other at the Bank of Baroda, from contracts improperly awarded by Transnet to Regiments Capital and Trillian Capital, as well as theft by Regiments Fund Managers from the Transnet Second Defined Benefit Fund.
“The Investigating Directorate alleges that the payments relate to a criminal scheme in which Moodley would receive kickbacks of 3% on a R189m payment that Transnet made to Regiments Capital and a payment of R56m which Regiments Fund Managers stole from the Transnet Second Defined Benefit Fund.
“He is charged with allowing Albatime accounts to be used to launder 75% of the R189 m and R56m through entities controlled by the Gupta family. This arrangement was then transferred to Trillian when the Regiments directors parted ways and Albatime laundered through to the Gupta Company, Tegeta, 80% of a Transnet payment of R93.4m made to Trillian Asset Management,” Seboka said.
Moodley is also accused of using these proceeds to assist members of the Gupta family to acquire Optimum Coal Mine for Tegeta.
On Monday night the ID, working with members of the SAPS seconded to the ID, arrested Moodley as he was boarding an international flight to Dubai at 7pm.
The ID has already obtained a restraining order over Moodley and Albatime’s assets to the value of R232m in June last year and the Johannesburg High Court confirmed the final restraining order on November 28 last year. A case of contempt of the restraining order is still pending against Moodley.
Political Bureau