Former Transnet CEO Gama, co-accused granted bail after arrests
The suspects were arrested on Friday morning in connection to corruption amounting to R93 million following investigations by the Hawks.
JOHANNESBURG - The five former Transnet executives accused of fraud, corruption and money laundering have been granted R425,000 bail.
The suspects were arrested on Friday morning in connection to corruption amounting to R93 million following investigations by the Hawks.
They made a brief appearance at the Palm Ridge Magistrates Court.
The accused include former Transnet Group CEO Siyabonga Gama who was granted R50,000 bail.
This while Regiments shareholder Eric Wood was released on R250,000 bail.
List of suspects: Former Group CEO of
EWN Reporter (@ewnreporter) May 27, 2022
Transnet Siyabonga Gama, Acting
Group Chief Financial officer Gerry
Peter, Group Treasurer Phetolo
Ramosebudi Regiments shareholder
Eric Wood, Trillian Asset
Management current Director Daniel
Roy (Novum Asset Management) @NkoRaphael
Former Transnet treasurer Phetolo Ramosebudi secured bail of R25,000.
The NPA's Sindisiwe Seboka said the accused were involved in a payment issued by Transnet for services that had been rendered by another service provider.
“The former Transnet officials are the ones we are ledging in our indictment to court as they assisted Trillian in getting the sum out for their benefit.”
The accused are expected back in court on 13 July together with Kuben Moodley who was arrested in September last year.
