NPA’s Investigating Directorate seizes Gupta family properties
The NPA's Investigating Directorate (ID) has confirmed that it's seized three Gupta family-owned homes, worth millions of rands, in Constantia in Cape Town and Saxonwold in Johannesburg.
The directorate confirmed that they had been granted an order to freeze assets of Iqbal Sharma, Atul and Rajesh Gupta and their wives, Chetali and Arti Gupta, respectively.
The order was granted in connection fraud charges related to a contract concluded between Nulane and the Free State Department of Agriculture in 2011 worth over R24 million.
The fraudulent proceeds of R24.9 million paid to Nulane by the department was transferred between Nulane and several companies, including Gupta entity Islandsite.
READ: NPA wants Interpol to assist with Gupta arrests
The ID's spokesperson Sindisiwe Seboka says Sharma’s assets that form part of the curator’s inventory include his Sandton home valued at over R12 million.
"The NPA's Investigating Directorate has received an unlimited restraint order against the property of a Gupta owned company that was opened in South Africa.
"It's one of the few companies that still have assets within the country. We must also add that the order further extends to Iqbal Sharma and property that he owns, more particularly in his two companies Nulane Investments and Islandsite Global. The order also pertains to property in Johannesburg, Cape Town and property abroad."
