Gupta money laundering ring paid companies linked to terrorist groups, according to Zondo
Shadow World Investigations forensic researcher Paul Holden said money laundering network Gupta used companies closely linked to those used by al-Khanani network, whose operations were linked to al-Qaeda , as well as human and drug trafficking.
FILE: Atul Gupta. Picture: Supplied.
JOHANNESBURG – The state capture commission has learned that the Gupta money laundering ring is paying offshore companies linked to the notorious al-Khanani network, whose operations were linked to al-Qaeda, as well as trafficking in human beings and drugs.
The researcher of the forensic firm Shadow World Investigations, Paul Holden, testified again Tuesday on the so-called offshore-onshore bridges.
He said that since his last appearance, the total amount of contracts tainted by the state’s capture had risen from Rand 49 billion to Rand 57 billion and that the bribes to the Guptas now stood at R 16 billion. rand.
“The entities that were making payments using Gupta company funds in the Hong Kong offshore grid, some of those companies were also simultaneously using this al-Khanani grid,” Holden told the committee.
Altaf Khanani was considered one of the world’s most wanted money launderers until he was arrested in Panama in 2015 by the United States Drug Enforcement Administration.
“South African Reserve Bank records show that an amount of $ 2 million, or R 23 million, in February and March 2015 to one of the companies in the al-Khanani network, Truhaven, which transferred $ 52 million to four different MLO companies from Al Khanani, including Jetline Trading, “Holden said.
Holden said Truhaven also paid local companies, including Smart Fabrics Trading, which was linked to Sahara Computers.
“The al-Khanani network laundered money for international drug cartels and was also involved in receiving money laundering funds for terrorist groups such as al-Qaeda,” he said.
Holden said that the Gupta money laundering network used companies closely related to those used by the al-Khanani network.