R24.9 million Nulane Investment fraud case due back in court | The Citizen

The now infamous Estina dairy farm was one of the programmes included in the province’s Mohoma Mobung project.

In the charge sheet handed to the accused during the last court appearance, the State alleges that the group colluded to divert funds earmarked for rural development in the Free State and placed them at the disposal of the Gupta family. “The R24.9 million was purportedly paid to Nulane to conduct a feasibility study for the Free State Province’s flagship Mohoma Mobung project, on the basis that Nulane had unique skills to perform the work.

“Nulane Investments, however, had no employees on its books and in fact subcontracted Deloitte Ltd to produce the report, for which Deloitte was paid R1.5 million. “The only change made to the Deloitte report was to identify Paras diary as a suitable implementing partner for the development of a milk processing plant in Vrede,” said ID national spokesperson Sindisiwe Seboka in a statement.Meanwhile, the corruption case against former Mineral Resources Minister Mosebenzi Zwane and his 16 co-accused on Wednesday was transferred to the Bloemfontein High Court and will be heard on 25 January 2023.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nulane corruption case back in court - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The High Court in Bloemfontein will on Thursday hear the R24.9 million fraud and corruption Nulane Investments case. Whenever we making a progress to hold Cyril and his gang Paul O'Sullivan accountable. The story of Guptas resurface to distract us. Nothing can move our eyes away from Phalaphala. Cyril nephew also involved in illegal covid tenders covid.He was allocating money for his benefit.
Source: SABCNews - 🏆 37. / 51 Read more »

JSE Investment Challenge winners outperform all-share index by big marginsSPONSORED | The 2022 competition attracted 24,000 participants, and for the first time in 50 years, all three winning teams traded single-stock futures
Source: SundayTimesZA - 🏆 47. / 51 Read more »

Township retail makes for compelling investment, says asset managerLow vacancies coupled with growth makes this sector attractive for investors
Source: BDliveSA - 🏆 12. / 63 Read more »

Serena Williams’ investment depicting Nigeria’s technology sector, 'attractive'Serena Williams’ investment depicting Nigeria’s technology sector, 'attractive' Nigeria is the leading African destination for foreign direct investments in technology startup businesses.
Source: TheSAnews - 🏆 25. / 59 Read more »

XR investment will advance the tech ecosystem in Africa - IT-OnlineThe rise of extended reality (XR) is transforming the way people experience both the physical and virtual worlds, creating new possibilities in different spectrums of life. By Sherry Dzinoreva; public policy programs director: Africa, Middle East & Turkey at Meta Imagine being able to create an avatar that resembles you with the ability to recreate […]
Source: ITOnlineSA - 🏆 16. / 63 Read more »