Gupta money laundering network paid firms linked to terror groups, Zondo hears
Researcher for forensics firm Shadow World Investigations, Paul Holden, said that the Gupta money laundering network used companies closely related to the ones used by the al-Khanani network, whose operations were linked to al-Qaeda, along with human and drug trafficking.
JOHANNESBURG - The state capture commission has heard that the Gupta money laundering network paid offshore companies linked to the notorious al-Khanani network, whose operations were linked to al-Qaeda, along with human and drug trafficking.
Researcher for forensics firm Shadow World Investigations, Paul Holden, on Tuesday testified again about the so-called offshore-onshore bridges.
He said that since the last time he appeared, the total amount of contracts tainted by state capture had gone up from R49 billion to R57 billion and that kickbacks to the Guptas were now at R16 billion.
“Entities that were making payments using Gupta enterprise funds into the Hong Kong offshore network certain of these companies were also making use simultaneously of this al-Khanani network,” Holden told the commission.
Altaf Khanani was considered one of the world's most wanted money launderers until he was arrested in Panama in 2015 by the US Drug Enforcement Administration.
“South African Reserve Bank records show that an amount of $2 million, that's R23 million, in February and March 2015 to one of the al-Khanani network companies, Truhaven, which transferred 52 million to four different Al Khanani MLO companies, including Jetline Trading,” Holden said.
Holden said Truhaven also paid local companies, including Smart Fabrics Trading, which was linked to Sahara Computers.
“The al-Khanani network was laundering money for international drug cartels and was also involved in receiving dissipating laundering funds for terrorist groups such as al-Qaeda,” he said.
Holden said that the Gupta money laundering network used companies closely related to the ones used by the al-Khanani network.