The Investigative Directorate has been awarded a restraint order worth R232 million against businessman Kubentheran Moodley and his company Albatime.
The High Court in Johannesburg has ruled in favour of an urgent application brought to compel Moodley to handover his assets.
ID head Advocate Hermione Cronje, who brought the application, contends that Moodley’s assets form part of a criminal investigation linked to Regiments Capital’s advisory services to Transnet.
The National Directorate of Public Prosecution’s case is that Regiments corruptly and fraudulently secured their appointment as advisors and received remuneration which was inflated.
Investigative Directorate spokesperson Sindisiwe Twala: “The order follows an interim restraint order granted against Regiments to the value of approximately R1.6 billion. Judgment in the Regiments matter’s final restraint order has been reserved.”
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