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

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.

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

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

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.
Источник: TimesLIVE - 🏆 28. / 59 Прочитайте больше »

WATCH: Standard Bank posts leaner annual earnings growthStandard Bank CEO Sim Tshabalala talks to Business Day TV about the company's full-year earnings and what it suggests for growth
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

Standard Bank CEO Sim Tshabalala upbeat about impact of policy reforms on investmentWhile the rest of Africa has delivered better results than SA, the bank’s boss believes the outlook will improve He's not a ceo 🤣🤣🤣🤣🤣
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »