NATIONAL NEWS - Five former senior Transnet executives have been arrested by the NPA’s Investigating Directorate (ID) and the Hawks on Friday morning in the East Rand.
The arrests took place around 07:00 at the Brackendowns Police Station, according to the spokesperson for the ID, Sindisiwe Seboka.
Former Transnet CEO arrested
It’s understood that two of the five accused include former Transnet CEO Siyabonga Gama and Eric Wood from the Gupta-linked companies Regiments Capital and Trillian Capital Partners, News24 reported.
The group is charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering.
They are expected to appear at the Palm Ridge Magistrate’s Court sitting as the Specialised Commercial Crimes Court.
This is a developing story. More to follow.
