Home South African Transnet former bosses, including Siyabonga Gama, arrested for fraud

Transnet former bosses, including Siyabonga Gama, arrested for fraud

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The five are charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering.

Former Transnet chief executive Siyabonga Gama. File Picture: Boxer Ngwenya

FORMER Transnet chief executive officer Siyabonga Gama is among five people arrested in relation to numerous allegations of breaching the Public Finance Management Act, fraud, corruption and money laundering.

Spokesperson for the Investigating Directorate, Sindisiwe Seboka, said the five would this morning appear in court.

According to News24, two of the five include former Transnet CEO Siyabonga Gama and Eric Wood from the Gupta-linked companies Regiments Capital and Trillian Capital Partners.

“The Investigating Directorate and the Hawks have arrested five accused who will appear before the Palm Ridge Magistrates’ Court sitting as the Specialised Commercial Crimes Court this morning (Friday),” she said.

“The arrest took place around 7 this morning at the Brackendowns Police Station. They are charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering.”

Last year, Gama told the Commission of Inquiry into state capture that his disciplinary charges in 2009 at the freight rail agency were a ploy to prevent him from succeeding Maria Ramos as the GCEO.

Gama was reacting to questions posed by the evidence leader advocate Anton Myburgh that his reinstatement to the post as CEO in April 2011 had been politically motivated and former president Jacob Zuma was behind it.

This is a developing story.

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