NEWS: Kubentheran Moodley and his company Albatime have been restrained from handling assets worth up to 232 million rand. This comes after the National Prosecuting Authority’s Investigating Directorate (ID) alleges Moodley and his company received over 200 million as kickbacks from the Regiments Group of Companies relating to contracts that were improperly awarded by Transnet and by the Transnet Second Defined Benefit Fund (TSDBF).
Investigative Directorate spokesperson Sindisiwe Twala brings you the latest update
The directorate alleges that these payments were made solely as a reward for their unlawful involvement in a corrupt scheme to benefit personal interests at the expense of the public purse. Investigations reveal Albatime, little more than an office in Rivonia without a website, was found by former public protector Thuli Madonsela to have helped the Guptas buy the Optimum coal mine.
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The Sunday Times had reported in January that payments of kickbacks were made to Albatime in less than a year. Moodley is expected to surrender the property to a court-appointed curator. The directorate’s head, Hermione Cronje, made out a case for an urgent restraint order on the basis that the state capture commission had released about R20m worth of liquid assets held in safety deposit boxes into Moodley’s custody on June 10 this year. The commission had seized the contents of the safety deposit boxes more than a year ago.
Judge Shanaaz Mia ruled that Moodley was to comply with the order.
“This order shall be executed under the supervision of the curator bonis. Representatives of (Moodley) may accompany the curator bonis to represent the applicants’ interest in the execution of this order,” the judge said.
The assets will be held by curator Mike Stewart of Bombani Liquidators and Trustees, who was appointed by the master of the high court in Johannesburg. Read more here at TimesLIVE