High Court rules R10m in Atul Gupta account be unfrozen
The High Court in Bloemfontein has ruled in favour of Atul Gupta and that the R10 million in his personal bank account has been unfrozen.
JOHANNESBURG - The High Court has granted an application by Atul Gupta to have money from his personal bank account unfrozen.
The court has ruled that R10 million be returned to his personal bank, it’s a sum he allegedly received from the Estina dairy farm scandal.
Judge Fouche Jordaan handed down judgment on Friday afternoon.
“The amount in paragraph 1.2 in order is amended by substituting the amount of R436,154,098 in place of the amount of R250,202,652.”
The controversial Gupta family has been accused of looting over R200 million from that project in the Free State.
#AtulGupta Presevation order also amended. Asset Forfeiture Unit wanted R220mil preserved, now only R40mil belonging to Gupta companies remains preserved. GN— EWN Reporter (@ewnreporter) March 9, 2018
The National Prosecuting Authority (NPA) says the money was siphoned off through an elaborate money laundering network with the help of the Bank of Baroda.
The preservation order to freeze money linked to the Guptas and the dairy farm project has also been amended.
The Asset Forfeiture Unit wanted R220 million preserved, now only R40 million belonging to Gupta companies remains preserved.
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