TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      Icasa moves to license more broadband spectrum

      17 August 2022

      Eskom to impose more load shedding

      17 August 2022

      Tiger Brands to go solar – to start with four manufacturing plants

      17 August 2022

      Google buys into African e-logistics firm Lori Systems

      17 August 2022

      A new normal is dividing the global chip industry

      17 August 2022
    • World

      Tencent reports first-ever sales decline

      17 August 2022

      Chip makers are flashing a big warning for the global economy

      17 August 2022

      Semiconductor boom turns to bust

      16 August 2022

      Tencent plans to offload R400-billion Meituan stake: sources

      16 August 2022

      Ether leaps higher on verge of Merge

      16 August 2022
    • In-depth

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022

      E-mail scams are getting chillingly personal

      17 July 2022
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022
    • Opinion

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Africa Data Centres
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Current affairs»Authorities seize R250m in Gupta assets

    Authorities seize R250m in Gupta assets

    Current affairs By Agency Staff17 April 2018
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    The Gupta compound in Saxonwold, Johannesburg, as seen in Google Earth

    The Asset Forfeiture Unit has seized properties, cars and aircraft linked to the politically connected Gupta family worth more than R250m, according to the National Prosecuting Authority.

    The assets included luxury cars, farms, residences, a helicopter and two other aircraft, the NPA said in an e-mailed statement.

    The Monday raids came after the high court in Bloemfontein granted an order against people and companies associated with suspected theft, fraud and money laundering related to Gupta-linked company Estina.

    Nazeem Howa’s house in Johannesburg’s Greenside suburb and five of his cars were among the assets identified for seizure

    The case is about a state-owned farm that was leased to Estina under a free 99-year contract in 2012. The regional government agreed to help develop it, but earlier this year prosecutors said most of the R220m in public funds transferred to the company ended up in the hands of the Gupta family.

    In February, former Oakbay Resources and Energy CEO Varun Gupta, former Oakbay Investments CEO Nazeem Howa, acting Oakbay Investments CEO Ronica Ragavan, and Ashu Chawla, the CEO of the Gupta family’s Sahara Computers, were among eight who were arrested on graft charges related to the farm and later granted bail.

    Howa’s house in Johannesburg’s Greenside suburb and five of his cars were among the assets identified for seizure, according to court documents provided by the NPA. Eleven properties linked to Ragavan were also on the list along with company-registered cars that included brands such as Mercedes, Audi, Porsche, Land Rover, Lexus and Lamborghini.

    The Gupta family, who have fled South Africa, have been accused of using a friendship with former President Jacob Zuma to win state contracts and influence government appointments. Zuma and the Guptas deny wrongdoing.  — Reported by Amogelang Mbatha and Renee Bonorchis, (c) 2018 Bloomberg LP

    Ashu Chawla Nazeem Howa Oakbay Ronica Ragavan Sahara Sahara Computers Varun Gupta
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleWebafrica in big effing trouble with ad authority
    Next Article Apple planning Music-like news subscription service

    Related Posts

    Government, SOEs poured R49-billion into criminal enterprises

    26 May 2021

    What to expect in this week’s mid-term budget

    22 October 2018

    Kingpins who looted SA may get off the hook

    21 October 2018
    Add A Comment

    Comments are closed.

    Promoted

    Top cybersecurity challenge is inadequate identification of key risks

    17 August 2022

    Acrobat Sign and Microsoft accelerate digital transformation

    17 August 2022

    HPE SimpliVity: addressing SMBs’ data conundrums

    16 August 2022
    Opinion

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.