Today, Thursday 8 March 2018, the DA Shadow Minister of Public Enterprises, Natasha Mazzone MP, will lay charges of money laundering and corruption against the Bank of Baroda, following a report by the Organized Crime and Corruption Project (OCCRP) that the bank deliberately laundered money on behalf of the Gupta family.
Among some of the OCCRP’s findings, was that some Gupta transactions and deposits lacked required documentation; certain transactions had inconsistent or incorrect information; officials at the bank’s South African branch deliberately suppressed employees’ reports of questionable Gupta-related transactions, and seeming attempts to disguise the origins of the money.
The Guptas have been at the centre of State Capture allegations, and these allegations should, therefore, be thoroughly investigated. It is for this reason that the DA will lay criminal charges against the Bank of Baroda in terms of Sections 29 and 52 of the Financial Intelligence Centre (FIC) Act.
The DA will ensure that if the bank did indeed knowingly assisted the illicit flow of money from parastatals to Gupta accounts, they will be held responsible to the fullest extent of the law.
Details of are as follows:
Date: Thursday, 8 March 2018
Time: 10 AM
Venue: Cape Town Police Station, 28 Buitenkant Street
GPS Coordinates: 33.9277° S, 18.4233° E