South Africa: Amabhungane and Scorpio #GuptaLeaks - Meet the Money Launderers


The Guptas used an international network of scrap metal dealers to launder hundreds of millions in kickbacks between China, India, the UAE and South Africa. We introduce them. By AMABHUNGANE and SCORPIO.

It must have been good news for Piyoosh Goyal when the State Bank of India approved his Rs750-million (Indian Rupees, then worth R120-million) loan.

So good that he then sent his agent to a senior banker's Mumbai home on a Sunday with two expensive watches and a fistful of cash. At least, this is what the Mumbai branch of the Central Bureau of Investigation (CBI) later claimed.

The CBI's anti-corruption investigators had lain in wait, that November 2013, and arrested Goyal's alleged agent when he emerged from the banker's home.

Then they raided the home where they said they found the two watches and the cash. Simultaneously, they raided Goyal's premises, where, they claimed, they found "incriminating documents".

The investigators laid charges of bribery and collusion against Goyal, his alleged agent and the banker.

According to Indian journalists, the investigators' evidence included more than 70 hours of recorded conversations. They also interrogated Goyal's agent for half a day.

Goyal's Delhi-based scrap metal company, Worlds Window Impex India, issued...

See What Everyone is Watching

More From: Daily Maverick

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.