Gupta-linked fraud accused, Kubentheran Moodley, has been granted R150 000 bail by the Palm Ridge Specialised Commercial Crimes Court, in Ekurhuleni. The alleged middleman for the Gupta family was arrested at the OR Tambo International Airport on Tuesday night before he could board a plane to Dubai.
Moodley faces several counts of fraud, theft, and money laundering totalling R307 million. The alleged offences were committed between 2012 and 2017.
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 improperly awarded by Transnet to Regiments Capital and Gupta linked Trillian.
It is alleged Moodley, through his company Albatime, was the middleman in the Transnet, Regiments Capital, and Trillion corruption saga.
Trillion is one of the companies state-owned, Transnet is said to have paid millions of rand for consultancy services.
“The Palm Ridge Specialised Commercial Crimes Court granted businessman Kuben Moodley bail of R150 000 and the matter was postponed to 28 February 2022. Moodley stands accused in his personal capacity and as a representative of Albatime Pty Ltd for offences involving R307 million between June 2012 and 2017 on several counts of charges of fraud, theft, and money laundering,” says Investigating Directorate Spokesperson Sindisiwe Seboka.
Last year, Moodley’s assets, worth R232 million, were placed under curatorship after allegations that he illegally benefited from kickbacks. He has denied any involvement.
Seboka says his bail was granted with conditions.
“The court ruled that he should report twice to the Sandton Police Station on Mondays and Fridays between 06:00 – 18:00 and hand over his passport to the investigating officer in court today.”
The matter is due back in court in February next year.