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Gupta family confirms resignation of Oakbay CEO

An attorney representing the Gupta family has confirmed that the CEO of the company Oakbay Resources and Energy has resigned.

Ajay Gupta. Credit: Youtube

JOHANNESBURG - An attorney representing the Gupta family has confirmed that the CEO of the company Oakbay Resources and Energy has resigned.

Jacques Roux is leaving the group just two weeks before the start of a court case, which has already revealed the Financial Intelligence Centre flagged R6.8 billion worth of transactions by the Gupta family as suspicious.

Oakbay is one of the companies named as a respondent in Finance Minister Pravin Gordhan's application asking for a judge to order that he cannot be forced to intervene in the relationship between the Gupta family and the banks.

That application has seen claims from the Gupta family that Gordhan tried to arrange a campaign against them, which he has strongly denied.

It’s also seen Deputy Finance Minister Mcebisi Jonas explain in court papers how he was offered a R600 million bribe and the position of finance minister by a member of the Gupta family.

The Guptas have denied that that happened.

(Edited by Zamangwane Shange)

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