ANC gives valuable Sandton land to Gupta’s, steals Alexandra renewal money

Crime Correspondent

ANC gives valuable Sandton land to Gupta’s, steals Alexandra renewal money
ANC gives valuable Sandton land to Gupta's, steals Alexandra renewal money

How is it possible that this rotten ANC organization, which has proven over and over that it is nothing more than an organized criminal cartel, fool the people of South Africa for so long? In another massive scandal it has come to light that the land on which the Sandton Gautrain station is built and the space above it that is earmarked for development was raked in by the Gupta front company ‘Regiments Capital’ totally for free.

This massive scandal dates back to the days when the ANC still ruled Johannesburg. It came to light by chance when the water supply was cut off to the Gautrain station because the property taxes were not paid. The 3 hectare land of the Gautrain station belongs to Cedar Park 39 Pty Ltd, which is part of the Regiments group. Regiments was used by the Guptas to render fictitious so called consultancy services to State Owned Enterprises like Eskom, Transnet and South African Airways.

The directors of Cedar Park is well known Gupta looter Eric Wood, Niven Pillay and Litha Nyhonyha, who is the chairman of Regiments Capital. Just a week ago it came to light that Regiments Capital stole almost a R1 billion from the Transnet Second Defined Benefit Fund, which pays its mostly white elderly Transnet pensioners a pittance, barely enough to buy food.         

Regiments now wants to settle those claims instituted against it over the Transnet pension fund looting with Capitec shares which it obtained in an earlier BEE transaction, but Capitec don’t want to allow that because it says shares held by non whites should stay in non white hands.                                             

The investigative journalists amaBhungane reported last year that Regiments Capital paid at least R600 million directly to Gupta front companies. Rapport newspaper has scrutinised the Gautrain station contract at the Deeds Office and information obtained there shows what an unbelievable bargain was scored by Regiments Capital, parent company of Cedar Park. When Regiments signed the contract with the city of City of Johannesburg in 2009, it was stipulated that Cedar Park should pay R280 million for the land. The bond for this amount was issued by the City of Johannesburg itself but not a cent of it was ever paid by Regiments Capital.                         

To add insult to injury, taxpayers of the Johannesburg Metro forked out a further R250 million so that a platform could be built above the station so that above ground twin towers could be built there by Cedar Park. Cedar Park has never paid a cent of property taxes and claims they are exempted from doing that in terms of their contract. This virtual gold mine enabled Cedar Park to obtain a development bond of R4, 2 billion.

One investor, Vantage Capital, already poured R150 million into planned developments on the land. Developments planned includes apartments, offices and a hotel. Nothing came of it so far. Vantage Capital now wants to go to court to liquidate Cedar Park but it’s directors wants to place it in business rescue. Herman Mashaba, DA mayor of Johannesburg, has said that they won’t reconnect the water supply to the Gautrain station before the outstanding water bill is not paid.                       

Earlier in the year widespread looting and burning occurred in the Alexandra township, which is adjacent to Sandton City, over living conditions. It then came to light that nobody knows what happened to the R1, 6 billion earmarked for the Alexandra Renewal Project in the 2000’s and that the money disappeared in ANC looting projects.

Whilst ANC looting continues and the country continues to fall apart piece by piece, the ANC will no doubt ramp up its efforts to blame the white minority and apartheid for all that is wrong in the country.

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SOURCECrime Correspondent