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MONEYWEB LIVESTREAM 00:01 The Zondo Commission heard that the Guptas made use of criminal enterprises to move funds abroad. Image: Shutterstock Paul Holden of Shadow World Investigations appeared before the Zondo Commission of Inquiry into allegations of state capture on Tuesday to continue with his testimony. His previous testimonies resulted in a flurry of submissions in response to the Rule 3.3 notices that had been sent to persons implicated by him. INSIDERGOLD Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process. SIGN UP To view all features and options, click here. ....
Government, SOEs poured R49-billion into criminal enterprises Paul Holden, co-founder and director of Shadow World Investigations, appeared at the Zondo commission of inquiry into allegations of state capture on Monday to give evidence on Gupta contracts with state-related entities. Shadow World Investigations focuses on cases of grand corruption, corporate malfeasance and militarism (co-founder Andrew Feinstein was an ANC MP until his resignation in 2001 when the party refused to properly investigate the arms deal). Holden gave a stupefying account of billions of rand paid from state-owned entities and other governmental organisations into a complex local laundromat. From here the “laundered” funds were transferred into further complex offshore arrangements in Hong Kong, China and Dubai. Ultimately, the funds ended up in Gupta-related enterprises. ....
State funds ended up in Guptas clutches in three ways, Zondo commission hears By Kailene Pillay Share Johannesburg - The state capture commission has heard explosive evidence from the director at Shadow World Investigations, Paul Edward Holden, who revealed that over R49 billion of state funds had been disbursed in expenditure tainted by state capture. The Gupta enterprise, he estimated, earned just over R16bn of that money. Holden, who gave evidence from an off-site location, explained how state funds were laundered through an enormous and complex manner via numerous Gupta-linked shell companies. He simplified it, explaining to the commission that the state funds ended up in the Guptas clutches through three ways. ....
MONEYWEB app instead? And the final pot of gold always ended up with the Guptas. 00:01 Billions in taxpayer money was awarded through tainted contracts, âlaunderedâ in SA, and moved offshore. Image: Waldo Swiegers, Bloomberg Paul Holden, co-founder and director of Shadow World Investigations, appeared at the Zondo Commission of Inquiry into allegations of state capture on Monday (May 24) to give evidence on Gupta contracts with state-related entities. Shadow World Investigations focuses on cases of grand corruption, corporate malfeasance and militarism (co-founder Andrew Feinstein was an ANC MP until his resignation in 2001 when the party refused to properly investigate the arms deal). ....
The Zondo Commission is hearing flow of funds evidence in relation to Gupta contracts from Paul Holden, a researcher at Shadow World Investigations. ....