Nedbank refutes Gupta-linked partnerships

The bank was responding to an article published on Friday by the Organised Crime and Corruption Reporting Project.

Nedbank. Picture: EWN

JOHANNESBURG - Nedbank has refuted any alleged partnership with Gupta-linked companies Regiments Capital or Trillian.

The bank was responding to an article published on Friday by the Organised Crime and Corruption Reporting Project (OCCRP).

They've accused Nedbank, among others of participating in transactions in partnership with Regiments and Trillian to extract money from South African state firm Transnet in late 2015 and early 2016.

Nedbank says their capital market activities are conducted in an ethical and transparent manner for the benefit of their clients and stakeholders

They've written to the Corruption Reporting Project requesting details of the documents they claim to have in their possession.

OCCRP said on Friday that Nedbank along with companies controlled by or connected to the wealthy and politically-connected Gupta family via its lieutenants extracted more than R1 billion from Transnet.