By: Sello Theletsane
The National Prosecuting Authority (NPA) has lodged a forfeiture application for Optimum Coal Mine to Optimum Coal Terminal to the tune of over R3.4 billion.
In a statement, the NPA said its decision Followed the recommendations by the State Capture Commission which recommended that the NPA act on the acquisition of Optimum Coal.
“The application seeks to have the shares owned by Tegeta Exploration & Resources (Pty) Ltd to be forfeited to the state on grounds of having been acquired through proceeds of unlawful activities and the instrumentality of money laundering under the Prevention of Organised Crimes Act (POCA).”
The NPA said it had already done ground work that resulted in a preservation order being handed down in its favour on 23 March 2022 by the High Court of South Africa, Gauteng Division, Pretoria.
“The court ruled on two interlinked matters. The first pertains to all of Gupta owned Tegeta shares in Optimum Coal Mine (OCM) and Optimum Coal Terminal. It also includes OCM’s business. All is preserved under section 38 of the Prevention of Organised Crimes Act 121 of 1998.”
“The second pertains to the claim of R1.3 billion of Templar in relation to OCM, also preserved. This takes the total preservation to R3.4 billion. In court papers, the underlying claim to the Templar stake preserved are funds that were advanced by the Gupta family Dubai Company, Griffin Line Trading LLC, a company nominally controlled by Ajay Gupta’s son, Kamal Singhala.”
The NPA added that Daniel McGowan, the owner of Templar, had himself stated under oath that the funds advanced by Griffin Line were derived from money stolen from the South African government and laundered via Mr Singhala on behalf of his father and wider family members.
Deputy National Director of Public Prosecutions Adv Ouma Rabaji-Rasethaba, responsible for asset forfeiture and deponent of the papers, said that this is one of the many ways that the NPA seeks to recoup proceeds of state capture as recommended in the Zondo Commission Report on State Capture.
“As the NPA we are confident in the forfeiture application papers filed. The NPA remains committed to ensuring that the recommendations of the Commission are prioritised,” Rabaji-Rasethaba said.
