The Palm Ridge Specialised Crimes Court has deferred the Transnet R398.4 million Transnet 1064 consultancy corruption contract to 30 November 2022.
The accused have been furnished with the draft charge sheet. Arrangements have been made to fully disclose the contents of the voluminous docket.
The accused are charged with contravention of the PFMA, fraud, corruption and money laundering.
The accused in the matter are: McKinsey and Companies SA, represented by employee Goitseone Mangope. Group Chief Executive of Transnet Brian Molefe, former Group Chief Financial Officer Anoj Singh, Regiments Capital Directors Niven Pillay and Litha Nyhonhya, former Group Chief Executive of Transnet Siyabonga Gama, former Group Chief Financial Officer Garry Pita, former Group Treasurer Phetolo Ramosebudi, Regiments shareholder Eric Wood, Trillian Asset Management current Director, Daniel Roy (Novum Asset Management) and Kuben Moodley, Albatime Pty Ltd owner.
The group are arraigned on charges stemming from the locomotives transaction advisory tender which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1064 locomotives worth over R54 billion. Regiments Capital was irregularly onboarded and ended up benefitting from the irregular appointment by Transnet in respect of the contract. The contract value and scope for the services required was later escalated to more than R305 million. This agreement included, amongst other services, the sourcing of the China Development Bank loan and the Club loan which were in the amount of $2.5 billion, on behalf of Transnet (equivalent to R30 billion at the time). The accused also face charges linked to the R93.4 million paid to Trillian Asset Management in 2015.
