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Cape Town has threatened to scrap contracts with companies including EOH, EY and Nedbank after the firms were named in the Zondo probe into state capture.

Cape Town has threatened to scrap contracts with companies including EY and Nedbank, after the firms were named in a judicial probe on alleged graft relating to business done with the national government. In a letter to the companies, seen by Bloomberg, the city asked them to explain why the contracts should not be cancelled after they were mentioned in reports compiled by the Judicial Commission of Inquiry Into Allegations of State Capture. The investigation probed corruption involving the government during former President Jacob Zuma’s administration that the state estimates cost the c...

The Zondo Commission has named Gupta family members and their allies for running a racketeering scheme at a key state-owned enterprise. But successfully prosecuting wrongdoers for racketeering is hard because the act of wrongdoing is broad and there’s no offence associated with it.

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.

During her testimony, Mothepu told the commission that her former boss and then CEO of Trillion Capital, Eric Wood, told her that former Finance Minister Nhlanhla Nene would be fired because he did not agree with a proposal by Gupta-linked company Regiments Capital.