15 January 2018

South Africa: Scorpio - Gupta-Linked Trillian and McKinsey's Assets to Be Frozen By Order of High Court

analysis

In one of the most significant moves in the anti-State Capture drive, South Africa's Asset Forfeiture Unit obtained an urgent High Court order to seize and preserve assets belonging to the Gupta-linked Trillian and global consulting firm McKinsey just days before Christmas. By JESSICA BEZUIDENHOUT for SCORPIO.

Consulting firm McKinsey & Co is scheduled to be formally served with a copy of a preservation order obtained against it by the Asset Forfeiture Unit on December 14.

The Asset Forfeiture Unit went to court for an order against the global company as well as the Gupta-linked Trillian Capital Partners for the nearly R1.6-billion they scored from the country's state-owned power utility without a valid contract.

The application was brought under section 38 of the Prevention of Organised Crime Act, a move usually linked to a criminal investigation and/or prosecution.

NPA spokesman Luvuyo Mfaku would not be drawn on this, but confirmed that the order was obtained following an ex parte application on December 14.

He said it could not be served on the parties at the time due to the impending festive season.

Responding to a question from Daily Maverick, Mfaku said the NPA had no reason to be concerned about...

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