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Over R49-billion paid to Gupta-linked companies

Over R49-billion paid to Gupta-linked companies

AFRICAN MIRROR REPORTER SEVERAL departments and enterprises owned by the South African government paid over R49-billion to 200 companies linked to the Gupta family, accused of being at the centre of state capture. This was contained in the evidence presented to the judicial commission into state capture, corruption and theft by Paul Holden, a director at Shadow World Investigations.  Holden’s probe revealed that billions flowed from government departments and state-owned enterprises to companies linked to the Gupta family, who fled SA and are now based in Dubai. The companies that received the money include McKinsey, KPMG, PwC, Estina, Sunbay Trading…
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Nedbank denies complicity in S.Africa corruption, shares fall

Nedbank denies complicity in S.Africa corruption, shares fall

SOUTH Africa's Nedbank denied any wrongdoing yesterday after three local news sites reported on its links to a scandal that led to large losses at public entities, sending the bank's shares down almost 9%. Investigative outlet amaBhungane, the Daily Maverick and News24 said Nedbank paid billions in rand in fees to a company called Regiments Capital for involving it in deals that lost money for municipalities and state-owned companies. The article published by the three news sites said the commissions were often not disclosed to clients Regiments was supposed to be advising impartially and that Nedbank knew or should have…
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