(Bloomberg) -- A South African judicial inquiry put members of the Gupta family who were friends of former President Jacob Zuma at the center of crimes that took place at state-owned Transnet SOC Holdings Ltd.
The probe found that racketeering occurred at the company and that it was the “primary site of state capture in financial terms,” according to a report published Tuesday. It recommended further investigation by law-enforcement agencies into former Transnet chief executive officers Brian Molefe and Siyabonga Gama, and ex-Chief Financial Officer Anoj Singh for possible prosecution.
The panel, headed by Acting Chief Justice Raymond Zondo, said testimony provided at the inquiry estimated that irregular contracts at Transnet totaled 41.2 billion rand ($2.7 billion).
“This amount represents 72.21% of the total state payments in respect of contracts tained by State Capture,” it said.
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