NPA Succeeds In Restraining R1.05bn From Gupta-Linked Regiments Capital… The high court in Johannesburg on Tuesday upheld an appeal by the National Prosecuting Authority’s investigating directorate (ID) to restrain the assets of Regiments Capital to the value of more than R1bn.
The interim restraint initially awarded in favour of the ID in November 2019 was discharged in October 2020 on grounds of failing to disclose material information about the company.
The court of appeal, led by judge Raylene Keightley, ordered that the restraint order initially issued by judge Gregory Wright be varied from R1.108bn to R1.6bn, the ID said.
However, due regard should be taken to the repayment which Regiments has made to the Transnet Second Defined Benefit fund in the amount of R639m. This then takes the total of restrained assets to R1.05bn.
The ID stated in court papers that the funds flowed from allegations of fraud, corruption and money laundering arising from Regiment advisory services to Transnet in relation to the 1,064 locomotive deal.
“This was a tough fight, but much appreciated in the long battle against state capture. This is just the beginning of law enforcement reclaiming the state from the jaws of capture,” ID director Andrea Johnson said.
Johnson praised the Hawks investigators and NPA Asset Forfeiture Unit personnel for the victory.
In addition to the Regiments matter, the ID has so far declared 82 investigations and enrolled 20 cases with 65 accused people.
“This is a clear indication that the directorate is hard at work in holding those most responsible to account,” Johnson said.