Transnet ex group CEO and other senior executives appeared in court on R93 million double invoice corruption matter
On Friday, 27 May 2022 the Palm Ridge Specialised Crimes Court granted bail to former Group Chief Executive of TransnetSiyabonga Gama, former Acting Group Chief Financial Officer Garry Pita, former Group Treasurer Phetolo Ramosebudi, Regiments shareholder Eric Wood, Trillian Asset Management current Director Daniel Roy (Novum Asset Management).
Gama, Pita and Roy have been granted bail of R50 000 each while Wood has been granted R250 000 bail and Ramosebudi, R25 000.
They stand accused of contravention of the PFMA, fraud, corruption and money laundering.
In 2012, Transnet went on a Request for Proposal tender to get transaction advisory services to secure funding for $2.5 billion(equivalent of R30 billion at the time) to fund the acquisition of the 1064 locomotives deal.
Later, in May 2015 Transnet appointed JB Morgan for advisory services. In July - October 2015 the same officials in Transnet started facilitating the termination of the JB Morgan contract. This cancellation resulted in them appointing Trillian in October 2015.
An invoice of R93.4 million was submitted by Trillian through Daniel Roy, who served as a director to Trillian. The invoice was approved by Pita and Gama, and payment was made on 03 December 2015 to Trillian’s account. Three days after that, R74 millionwas paid to Albatime, owned by Kuben Moodley, for no apparent reason.
Prior to that, payment by Transnet was made to Regiments for R189 million in June 2015 for the alleged same services.
Adv Andrea Johnson is confident that the ID is on track to hold accountable those alleged to have been at the centre of, or facilitated state capture. This is the second seminal matter enrolled this week and more can be expected within 6 months. She further extends appreciation to the Hawks for the assistance in this matter.
The group joined businessman Kuben Moodley on the dock, who was arrested in September 2021.
The matter will return to court on 13 July 2022 for adding of further accused.
Kind regards,
Sindisiwe Seboka
Investigating Directorate National Spokesperson
066 265 591