South Africa has emerged as a hub for alleged regional money laundering operations of staggering proportions. Armies of fly-by-night front companies obscure the networks, but missteps seem to have exposed some key Johannesburg ‘service providers’, including one prominent attorney known for his.
Over the past decade, Johannesburg banks have been fair game for a group of alleged money launderers tied to luminaries in the gold and tobacco sectors. The cash flow was enough to transform a small bank’s balance sheet overnight, yet no one raised the alarm. We ask why it was so easy and where.
A cash and gold laundromat developed and thrived over a considerable period of time, crossing borders and moving a staggering amount for a variety of players.
Under pressure to pay Eskom back nearly R600-million following a tainted deal, a broke Trillian Capital Partners says that Salim Essa, the Gupta family’s one-time chief lieutenant, left hundreds of millions of rand in unpaid ‘shareholder loans’ that he had extracted from the company.
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