More corporations reportedly cutting ties with Gupta family's company
The City Press is reporting that after KPMG confirmed that it won’t be auditing Oakbay Resources and Energy.
JOHANNESBURG - A number of corporations have reportedly indicated they are no longer going to do business with the controversial Gupta family's company.
The City Press is reporting that after KPMG confirmed that it won't be auditing Oakbay Resources and Energy anymore.
Absa and Sasfin have now followed suit.
The City Press says it has learned that JSE sponsor Sasfin has served the Gupta family business, Oakbay Resources and Energy, with a notice announcing its departure.
Absa has indicated that it too will be cutting financial ties with the company.
It's being reported that in an internal email sent to KPMG staff, it stated that the firm was concerned about the risk of jeopardising its reputation if it continues to do business with the Guptas.
The Gupta family have not yet responded to the latest movement by the companies.
Last month, deputy Finance Minister Mcebisi Jonas confirmed that he was offered the position of Finance Minister by one the Gupta brothers.
The Guptas have denied this.