The first state capture trial in which Atul and Rajesh Gupta and their spouses have been formally charged got underway in the Bloemfontein high court on Monday, while the state’s efforts to secure their extradition from the United Arab Emirates continue.
Former Transnet board member Iqbal Sharma, a close associate of the family, his brother-in-law Dinesh Patel and six co-accused face charges of defrauding the Free State government of R24.9 million with the intention of benefitting the Gupta brothers and their business operations.
The state alleges that Nulane Investments, of which Sharma was the sole director, eventually transferred R19 million into a Standard Chartered Bank of Gateway Limited account in the United Arab Emirates after it was laundered through a host of companies in the Guptas’ business, including Islandsite Investments, Tegeta Resources and Oakbay Investments.
The Gateway account in the UAE was controlled by Sanjay Grover, who is described in the indictment read out in court on Monday as “a close, trusted, loyal friend, employee and business partner” of the Guptas.
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