Gupta-linked fraud accused, Kubentheran Moodley’s bail conditions were relaxed by the Palm Ridge Magistrate’s Court on Monday morning.
Moodley made a brief appearance at the Specialised Commercial Crimes court, his new bail conditions allow for him to move within the borders of the country and only report to a police station once a week
He was arrested at OR Tambo Airport enroute to Dubai and charged with several counts of fraud, theft, and money laundering totalling R307 million.
The alleged offences were committed between 2012 and 2017. Moodley was granted bail of R150 000 in September 2021.
Independent Directorate freezes Kubentheran Moodley’s assets:
The money laundering charges relate to the proceeds received into two Albatime business bank accounts, one held at ABSA and the other at the Bank of Baroda, from contracts allegedly improperly awarded by Transnet to Regiments Capital and Gupta linked Trillian.
Moodley is facing charges of fraud, theft and money laundering and his assets which are worth R232 million were placed under curatorship after allegations he illegally benefitted from kickbacks.
It is alleged Moodley, through his company Albatime, was the middleman in the Transnet, Regiments Capital, and Trillion corruption saga.
The state asked for the matter to be remanded to allow for other co-accused to be joined to the charges following the release of the Zondo Commission.
Moodley denies any involvement and is set to return to the dock on May 27, 2022.
Moodley granted R150 000 bail in Gupta-linked case:
