Singh’s court blow

BID: SOUGHT RELAXATION OF BAIL CONDITIONS TO PURSUE JOB IN DUBAI

▶ Transnet’s ex-CFO faces charges over R54bn tender.

The Johannesburg Specialised Commercial Crime Court, sitting in the Palm Ridge Magistrate’s Court, yesterday dismissed former Transnet chief financial officer (CFO) Anoj Singh’s application to relax his bail conditions.

This decision follows his application last week, wherein he sought relaxation of his bail conditions on the grounds of pursuing a job opportunity as a CEO in Dubai, citing unemployment since 2018.

Singh had resigned from his position at Eskom in 2018 while under suspension.

However, the court rejected his application, reportedly due to concerns regarding the lack of details provided about his contract conditions.

Singh was arrested by the Hawks and charged with contravening the

Public Finance Management Act (PFMA) and fraud in August 2022.

Evidence of Singh’s alleged corruption was presented to the Commission of Inquiry into State Capture.

He joined former group CEO of Transnet Siyabonga Gama, former group CFO Garry Pita, former group treasurer Phetolo Ramosebudi, Regiments shareholder Eric Wood, Trillian Asset Management director Daniel Roy (Novum Asset Management) and Kuben Moodley, owner of Albatime Pty Ltd.

The charges stem from the locomotives transaction advisory tender which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1 064 locomotives worth more than R54 billion.

According to Sindisiwe Seboka of the National Prosecuting Authority, Regiments Capital was irregularly onboarded and ended up benefitting from the irregular appointment by Transnet in respect of the contract. The contract value and scope for the services required was later escalated to more than R305 million.

“This agreement included, among other services, the sourcing of the China Development Bank loan and the Club loan which were in the amount of $2.5 billion (about R30 billion), on behalf of Transnet,” said Seboka.

The accused also face charges linked to the R93.4 million paid to Trillian Asset Management in 2015.

They were granted R50 000 bail each and ordered to hand over their passports.

Alleged graft was present at Zondo commission