LIVE: Gupta bank accounts in spotlight at #StateCaptureInquiry
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Johannesburg - The commission of inquiry into allegations of state capture will on Tuesday hear evidence from Absa and FNB officials on their reasons for shutting down the accounts of members of the Gupta family.
On Monday, The commission, which is led by Deputy Chief Justice Raymond Zondo, heard how a R3.5 million bond in the name of one of former president Jacob Zuma's wives raised red flags for Standard Bank.
The bank's former legal compliance head, Ian Sinton, testified that Standard Bank took the decision in 2016 to close the Gupta accounts because of a combination of fears over reputational damage to the institution and a number of suspicious transactions which they feared could contravene banking regulations.
Stinton told the commission that the bank's officials were summoned to Luthuli House, where high-ranking ANC officials questioned their decision to close the Gupta accounts and also wanted to know whether they were deliberately harming black businesses.
WATCH THE LIVE FEED OF TUESDAY'S PROCEEDINGS HERE:
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