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Ruling expected on 8 accused of massive Gupta linked fraud

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The Free State High Court in Bloemfontein is on Monday expected to make a ruling over the freezing of R180-million in assets of eight people accused of fraud and other charges, relating to the multimillion-rand Estina dairy farm project.

Gupta-linked companies recently challenged a provisional restraint order which the Asset Forfeiture Unit (AFU) obtained against the eight in April, while a criminal case against them is pending.

The eight were arrested during raids at various locations in February, including the Gupta compound in Saxonwold and their offices in Sandton.

They are Estina director Kamal Vasram, former directors at the Guptas’ holding company Oakbay — Varun Gupta, Ronica Ragavan, Nazeem Howa and Ashu Chawla — and Free State officials Peter Thabethe, Sylvia Dlamini and Takisi Masiteng.

Luxury vehicles, immovable properties and bank accounts are some of the assets which are subject to the provisional restraint order…..

Source: Ruling expected on Vrede restraint order | News | National | M&G