The Democratic Alliance (DA) will lay charges of money laundering and corruption against the Bank of Baroda, following a report by the Organized Crime and Corruption Project (OCCRP) that the bank deliberately laundered money on behalf of the Gupta family.
The DA says if the bank did indeed knowingly assist the illicit flow of money from parastatals to Gupta accounts, they will be held responsible to the fullest extent of the law.
The Bank of Baroda announced its exit from South Africa last month.
DA spokesperson Marshalle Fredricks says, “The DA will be laying the charges at the Cape Town police station, Thursday at 10. The report found that some Gupta transactions and deposits lacked required documentation, that certain transactions had been incorrect, and the bank officials deliberately suppressed reports of questionable Gupta related transactions. So the DA will lay criminal charges against the bank of Baroda on section 29 and 32 of the Financial Intelligence Act.”
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