South Africa: 14 Gupta Linked Companies and Individuals to Have Their Assets Frozen

At least 14 people and entities linked to the alleged corruption by Gupta-linked company Trillian and international consultancy firm McKinsey have been identified in a preservation order obtained by the Asset Forfeiture Unit.

The December 14 order, obtained in the North Gauteng High Court in Pretoria, seeks to recoup assets worth an estimated R1.6 billion as the State finally goes after those identified in probes into state capture, by the family linked to President Jacob Zuma. The AFU is going after the big shots at Trillian and McKinsey. The people named in the court order include Eric Wood who is Trillian CEO, Trillain CFO Tebogo Leballo and Prakash Parbhoo, a partner at McKinsey and Jean Pierre Goerges Desvaux, who is a senior partner and managing partner at McKinsey. Also read: R50bn expected to be seized in 17 state capture cases – AFUThe court order also identifies Trillian property in the high-end business precinct Melrose Arch in Johannesburg.

A Durban-based curator, Medwin Madoda Sifiso Nxumalo, has been appointed.

Nxumalo will have powers, duties and authority to “assume control of the property and do any and all things necessary to preserve the property while the order is in force”, the order states.

The AFU went to court for an order against the global company as well as the Gupta-linked Trillian Capital Partners for allegedly scoring an invalid contract from Eskom.Others named in the order include: Veronica Magwentshu, Thabiso Legoete, Johannes Faure, Daniel Roy, Trillian Capital Partners, Trillian Finanical Advisory, Trillian Management Consulting, Trillian Properties, Trillian Securities, McKinsey and Company Africa, and “any other person who becomes known to the applicant as having an interest in the property.

Source: News24

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