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The Vrede dairy farm cost the taxpayers R288 million, with the bulk of the money allegedly funnelled to the Guptas and their related companies.
Iqbal Sharma is a businessman with close ties to the Guptas; he also served on the board of Transnet during the state capture era.
News24 understands that three other former senior Free State government officials, linked to the diary project, have been nabbed.
Iqbal Sharma, a businessman and key associate of the controversial Gupta family, has been arrested in connection with the failed R288 million Estina dairy project in Vrede, in the Free State.
News24 understands that Sharma will appear in the Bloemfontein Magistrate s Court on Thursday to face charges of fraud and money laundering.
A prominent businessman associated with the controversial Gupta family and three former Free State agriculture department heads were arrested on Wednesday.
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