Standard Bank cut ties with Gupta companies after spotting dodgy transactions, inquiry told

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Standard Bank flagged millions of rands in suspicious transactions between Transnet and the Gupta-linked Regiments Capital in 2014

Standard Bank head of compliance, Ian Sinton, who appeared at the state capture commission in Johannesburg on March 12 2019. - which ultimately led to the bank cutting ties with businesses related to the controversial family two years later.Standard Bank head of compliance Ian Sinton, who was testifying at the state capture inquiry on Tuesday.

The money was, almost entirely, siphoned off to two Gupta-linked entities, Homix and Chivita - both of which have since been exposed as shelf companies. The Gupta's Optimum coal mine, Homix and Regiments Capital were account holders at the bank. Controversial global consultancy firm McKinsey, which has also been implicated in state capture, was also doing work for Standard Bank at the time.

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귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

These banks are playing the good guys in this case. They allowed the money laundering to happen for +-9 years, only when the heat was turned up on the Guptas then they knew the banks would be investigated and hence closed the accounts

Why they out there charging black people dodgy interests

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Standard Bank cut ties with Gupta companies after spotting dodgy transactions, inquiry toldStandard Bank flagged millions of rands in suspicious transactions between between Transnet and the Gupta-linked Regiments Capital in 2014 - which ultimately led to the bank cutting ties with businesses related to the controversial family two years later.
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