Picture: Henk Kruger/African News Agency (ANA)
Picture: Henk Kruger/African News Agency (ANA)

ID confirms seized assets of Guptas and Sharma worth millions

By Ntombi Nkosi Time of article published Jun 4, 2021

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Johannesburg - The Investigating Directorate (ID) has confirmed the seizure of properties and assets belonging to the Guptas and their associate, Iqbal Sharma, in Cape Town and Johannesburg on Friday.

Earlier Independent Media reported that the law enforcement agencies swooped on the properties of Sharma after his arrest and appearance in the Bloemfontein Magistrate’s Court.

He is scheduled to be back in court on Monday with another former Free State official after two other accused were granted bail on Thursday.

In a statement, the ID confirmed the seizure of assets worth millions of rand.

The ID said the Bloemfontein High Court granted a restraint order to freeze assets of Iqbal Sharma, his company Nulane Investments 204 (Pty) Ltd, and Islandsite Investments 180 (Pty) Ltd, which belongs to Atul and Rajesh Gupta and their wives, Chetali and Arti Gupta, respectively.

“Sharma’s assets that form part of the curator’s inventory include his Sandton home valued at over R12 million. The property was featured on lifestyle television programme Top Billing, and is owned through a UAE-registered company, Issar Global.

“Other assets include movable property valued at R500 000 and a R1.3m sectional title home in Sandton. Properties owned by Gupta family company Islandsite that form part of the inventory include a house worth R21m in Constantia, near Cape Town and a R12m house in Saxonwold,” said Seboka.

Staff working for Bidder Choice Auction House, who was appointed by a curator, also delivered court documents to the Constantia residence. The property appears to be in a state of disrepair and no one seemed to be home.

Video: Henk Kruger/African News Agency(ANA)

Seboka said should the accused be convicted, the National Director of Public Prosecutions will apply for a confiscation order against Sharma and Islandsite to recoup the value of benefits derived from the offences and related criminal activities.

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Political Bureau

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