Durban - Goitseone Mangope appeared in the Palm Ridge Specialised Commercial Crimes Court on Friday on charges relating to the R398-million fraud case.
The Investigating Directorate explained that McKinsey SA is represented by Vigas Sagar, its former principal and employee, Mangope.
“Sagar will stand accused in his personal and representative capacity, while Mangope stands as current representative of the company,” said ID spokesperson Sindisiwe Seboka.
The other accused in the matter are: group chief executive of Transnet Brian Molefe; former group chief financial officer Anoj Singh; Regiments Capital directors Niven Pillay and Litha Nyhonhya; former group chief executive of Transnet Siyabonga Gama; former group chief financial officer Garry Pita; former group treasurer Phetolo Ramosebudi; Regiments shareholder Eric Wood; Trillian Asset Management current director Daniel Roy (Novum Asset Management); and Kuben Moodley, Albatime Pty Ltd owner.
The former Transnet executives and their co-accused are charged with contravention of the PFMA and fraud, while the other accused are charged with fraud, corruption and money laundering.
“The group are arraigned on charges stemming from the locomotives transaction advisory tender which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1 064 locomotives worth over R54 billion. Regiments Capital was irregularly onboarded and ended up benefiting from the irregular appointment by Transnet in respect of the contract,” Seboka said.
She added that the contract value and scope for the services required was later escalated to more than R305m. This agreement included, among other services, the sourcing of the China Development Bank loan and the Club loan which were in the amount of $2.5bn, on behalf of Transnet (equivalent to R30bn at the time).
The accused also face charges linked to the R93.4m paid to Trillian Asset Management in 2015.
Eric Wood, who applied for relaxation of his bail conditions on September 7, 2022, is expected to return to South Africa today from the UK and Spain.
Meanwhile, Seboka said the Palm Ridge Specialised Commercial Crimes Court deferred the matter to October 14, when Mangope will join his co-accused.
IOL