When global consulting firm McKinsey "came clean" last Tuesday about its work at Eskom, it admitted it was not careful enough about associating with Trillian, its de facto local partner. But it claimed not to have known that Gupta lieutenant Salim Essa owned most of Trillian. Now we show that at least R30-million flowed from Regiments, McKinsey's longstanding local partner at Transnet, into companies associated with a notorious Gupta-Essa money laundering channel. McKinsey refuses to comment on the payments, styled as fees to "business development partners". Once again, it was the major beneficiary of the resultant contracts.
It is said that people in glass houses shouldn't throw stones. But sometimes when they do we all benefit because we find out what has been going on inside for years.
Regiments Capital is situated at 35 Ferguson Road in Illovo, Johannesburg, behind an edifice of steel and glass. Four kilometres down the road at Melrose Arch, Regiments' former colleagues and now bitter rivals, Trillian Capital Partners, set up shop in their own glass fortress.
For years, Regiments benefited from lucrative consulting and advisory contracts with state entities.
Then in 2015, Regiments director Eric Wood and Gupta lieutenant...