Guptas are going to lose assets

Die Vryburger

Guptas are going to lose assets
The Gupta Brothers - Image - Die Vryburger

The Public Prosecuting Authority has signed confiscation orders under which the Asset Forfeiture Unit will today seize the assets of the infamous Indian family. Assets worth R1.6 billion are affected.

The unit had asked in three court applications for orders, and a trustee will be appointed to oversee the assets. According to the application, the assets were acquired through criminal acts.

The application should be accompanied by orders of the arrest of persons involved in the relevant cases. It is expected that one of the Gupta brothers will be arrested, but it is not sure who it will be.
Minister of Minerals, Mosebenzi Zwane, is also involved.

The seizure will be made on assets as well as monies in banks, locally and abroad.

Observers believe that the timing can favor the position of the Public Prosecutor, Shaun Abrahams. It is speculated that the ANC may decide at its next meeting to replace Abrahams, but the fact that he has now issued warrants to combat state capture can hamper plans to replace him.

Read the original article in Afrikaans on Die Vryburger

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