Former Transnet CFO Anjoy Singh Seeks Bail Condition Relaxation for Overseas Work

Former Transnet CFO Anoj Singh wants his bail conditions relaxed to work abroad in Dubai. Singh was arrested in August 2022 on corruption charges. Now, he’s due to appear in court on Thursday. IOL reports that the NPA’s Investigating Directorate plans to oppose his request.

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He, former Transnet CEO Brian Molele, and others face charges of fraud and corruption totalling R398.4 million at Transnet. These charges include breaking the Public Finance Management Act and money laundering. The arrests relate to irregularities in awarding a locomotives transaction advisory tender to the McKinsey-led consortium in 2012. This tender led to the procurement of 1064 locomotives worth over R54 billion.

There were irregularities in contracts with Regiments Capital, totalling over R305 million. These contracts included sourcing loans from the China Development Bank and Club, totalling $2.5 billion. Additionally, charges relate to a payment of R93.4 million to Trillian Asset Management in 2015.

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11 Licensing Officials Nabbed in ‘Operation Catfish’ Crackdown on Fraud and Corruption

Picture: Pixabay / Sergei Tokmakov, Esq. https://Terms.Law

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