Former Transnet chief executives Brian Molefe and Siyabonga Gama, along with two others, have handed themselves over to police this morning in connection with fraud and corruption charges linked to a controversial R93 million locomotive deal.
The group is expected to appear in court later today.
The charges relate to a 2015 tender for the procurement of 1,064 locomotives, a deal valued at over R54 billion. Authorities allege multiple violations, including contraventions of the Public Finance Management Act, fraud, corruption, and money laundering.
Entities tied to the Gupta family, including Regiments Capital and Trillian Asset Management, are also implicated. Investigators are probing suspicious payments — such as R93.4 million to Trillian — and contract escalations totaling R305 million.
This marks a significant development in South Africa’s ongoing efforts to bring alleged state capture figures to justice.
More information to follow as this is a developing story.
