Page 8 - Former Transnet News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Former Transnet CEO, Siyabonga Gama, who is among the five people accused of R93-million fraud and corruption in a case relating to the procurement of 1 064 locomotives by the State-owned freight rail company, was released on R50 000 bail following his arrest on Friday. Gama is facing charges alongside other former Transnet top executives, acting chief financial officer, Garry Pita, ex-group treasurer Phetolo Ramosebudi, Regiments' Eric Wood, and Trillian Asset Management director Daniel Roy. 

Gama, Eric Wood, Garry Pita, Phetolo Ramosebudi and Daniel Roy appeared before the Palm Ridge magistrate’s court on charges of fraud, money laundering and contravention of Public Finance Management Act

The Free State High Court in Bloemfontein has refused to postpone proceedings for the confirmation of an interim restraint order that was granted against a Gupta-owned company in business rescue.

Two parts of the three-part report by the judicial commission investigating allegations of state capture under former President Jacob Zuma have now been published. The third is due at the end of February.

In July 2020, the SIU brought corruption charges against Msagala to the Special Tribunal, accusing him of receiving kickbacks worth R18 million.