The National Prosecuting Authority’s Investigating Directorate (ID) has been granted a restraint order to freeze assets worth R232 million of Gupta-linked Kuben Moodley and his company, Albatime.
The High Court in Johannesburg ruled on an urgent application brought on June 10 by the Directorate to compel Moodley to hand over his assets.
The Directorate’s Head Advocate, Hermione Cronje, who brought the application, contended that Moodley’s assets form part of a criminal investigation into kickbacks from the Regiments Group of Companies.
The kickbacks relate to contracts that were improperly awarded by Transnet and the Transnet Second Defined Benefit Fund.
Moodley is expected to surrender the assets to a court-appointed curator.
The order comes after judgment was reserved on an interim restraint order granted against Regiments to the value of approximately R 1. 6 billion.
Below is the statement:
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