Controversial duo off hook for fraud, forgery and theft

EMBATTLED businessmen former Transnet director Stanley Shane and business partner Clive Angel are no longer facing prosecution in the Specialised Commercial Crimes Court, after the charges against them were dropped.

The pair appeared in court on Monday, when the fraud, theft, money laundering, forgery and uttering charges were withdrawn following representations to the State from their attorney, Billy Gundelfinger.

According to the initial charge sheet, Shane and Angel’s company, Integrated Capital Marketing, invested in a liquor business called Biggest SA Trading (BSA), with them becoming non-executive directors and private equity investors.

Logistics giant Supergroup Trading negotiated to purchase BSA, settling on a purchase consideration of R50 million.

However, Supergroup laid criminal charges against the business, Shane, Angel, BSA directors and Daniel Peer, as well as the company’s auditor, David Graham Buxton, allegedly for misrepresenting the value of the company.

The State alleged that the group had forged two fake invoices to falsely raise the value of the business by about R12 million.

However, speaking to the Saturday Star this week, Gundelfinger said his clients had been vindicated.

He said his pair were “non-executive directors, minority shareholders and private equity investors who were not operationally involved in the business”.

It was revealed last year that Shane and Angel were under investigation for their links to the controversial Gupta family.

Shane, in his capacity as a top executive at Transnet, was accused of showing bias towards a Gupta-linked company, T-Systems, in a procurement process.

Media reported that he decided to keep T-Systems’ contract, despite recommendations from other committees suggesting the company be dropped in 2016.

Shane defended the board’s decision to appoint T-Systems at the time of the report, despite claims that another company, Robert Gumede’s Gijima Holdings, had scored the highest points to be awarded the contract as stated by the Public Finance Management Act.

An amaBhungane investigation later revealed Shane, Angel and several other businessmen allegedly formed part of the “Gupta minyan”, which was described as a key brains trust for the family.

While it seems the investigation into the group is ongoing, it’s understood that no criminal charges have been laid against them regarding their alleged links to the Guptas.

Non- executive directors who were not operationally involved in the business

Billy Gundelfinger

Attorney

AP A WORKER loads grapes onto a trailer at the Diemersdal Wine Estate on the outskirts of Durbanville.