Lord Hain: Illicit Gupta funds flowing through Dubai, Hong Kong
Lord Hain has asked that all UK financial institutions review their exposure to the list of 27 people and 14 entities including Zuma, several of his relatives, the Guptas as well as presidential hopeful Nkosazana Dlamini-Zuma.
PRETORIA – A former anti-apartheid activist and British lord is rallying British, European, Dubai and Hong Kong financial authorities to investigate the Guptas and President Jacob Zuma for their alleged role in corruption and international money laundering.
Lord Hain made the appeal in a letter to the Chancellor of the Exchequer Phillip Hammond in September and has also tabled a question in the British House of Lords.
The Gupta leaks have in recent months revealed how the family uses the international banking system to move funds, allegedly the proceeds of corruption offshore.
Hain says it appears that most of the illicit funds have flowed through Dubai and Hong Kong where British banks HSBC and Standard Chartered have a major footprint.
He also asks that all UK financial institutions review their exposure to the list of 27 people and 14 entities including Zuma, several of his relatives, the Guptas as well as presidential hopeful Nkosazana Dlamini-Zuma.
Hain indicates he intends raising these issues with the financial authorities in Dubai and Hong Kong as well as with the president of the European Commission.
Meanwhile, despite reports on Thursday that the FBI was probing the controversial family, the US Department of Justice would neither confirm nor deny this.
LISTEN: Lord Hain explains reasons behind UK’s probe on HSBC, Standard Charter