Banks must be wary of opening accounts for the Manyi company after transaction with Guptas
23 August 2017
Everything seems to point to the fact that the transaction between Jimmy Manyi and the Guptas is artificial and serves only to create distance between the Guptas and banks by opening accounts in Manyi’s name and the banks need to be aware of this,” says Adv Alberts, chairperson of the FF Plus.
He says that the money may be part of funds that were wrongfully obtained, as stipulated in the Public Protector’s (PP) report on state capture, and the loan to Manyi may simply be a way of laundering the money.
Therefore, the FF Plus is going to request that the Financial Intelligence Centre immediately investigate all new accounts opened by Manyi’s company.
On Monday, the Guptas’ company, Oakbay Investments, announced that Manyi’s company, Lodidox and Management, bought ANN7 for R300 million and The New Age for R150 million.
According to Adv Alberts, the Financial Intelligence Centre must determine the source of the funds should Manyi’s company open any new bank accounts.
“The transaction seems suspicious because the company used by Manyi for the acquisition is but an empty shell and the selling price is significantly higher than market value,” says Adv Alberts.
Issued by Anton Alberts, FF Plus Chairprson, 23 August 2017