Revealed: What the Guptas did to earn their kickbacks. By AMABHUNGANE and SCORPIO.
Even crime families need excel spreadsheets.
How else were the Guptas supposed to keep track of the R5.3-billion in kickbacks they were expecting from three different Transnet locomotive contracts?
Although Parliament has so far focused its attention on Eskom, Transnet was the most deeply captured of all the State-owned Enterprises and, by value, the locomotive deals were the Guptas’ biggest heist, dwarfing the Estina dairy project.
One of the great discoveries of the #GuptaLeaks is the spreadsheet which details how Gupta front companies received kickbacks from China South Rail (CSR) on Transnet locomotive deals starting as far back as 2012.
The spreadsheet details what portion of the purchase price of each locomotive would be paid to front companies (20%-21%), the amounts already paid (in US dollars), and how much the front companies would retain as their fee for laundering the payment (15% of the kickback), and the ultimate payment the Guptas would receive (R5.267-billion).
But until now there has been very little information about what the Guptas did to justify the massive kickbacks they received.
After amaBhungane and Daily Maverick published the allegations from the #GuptaLeaks in…
AllAfrica News: Corruption Click here to read the original article