Zhou Qhinghe, then chief executive of CSR Zhuzhou Electric Locomotive Co, celebrating the delivery in Tshwane of the first locomotives from an order of 95 that Transnet had placed with his company’s South African subsidiary.
This was reportedly the single biggest order of Chinese high-end rail equipment globally, making a not-insignificant contribution to the soaring fortunes of CRRC Corporation , which arose from the subsequent merger of the CSR and CNR groups.reproduced on CRRC’s website recounts a “very interesting moment” when Transnet wanted a representative of the local CSR Zhuzhou subsidiary to sign their contract, while “Chinese regulation” dictated that Zhou as head of the parent company should sign.
Other senior CRRC executives’ names also litter the kickback contracts with the Guptas. They include Zhou’s colleagues Guo Bingqiang and Hu Yuewen from CSR, and Ma Zhan and Zhu Zhiyong from CNR.The R9-billion total value of the locomotive kickback agreements – against the R5.3-billion estimated before – includes a previously unknown 21% kickback agreement between the Guptas and CNR.
Now our analysis of the bank data concludes that the Guptas got their cake and ate it. Over and above the local kickback, CNR transferred R116-million to one of the fronts Essa had set up in Hong Kong.The day of the last nationwide municipal elections, 3 August 2016, stands out like a sore thumb in the Gupta kickbacks timeline.
To explain: Under the earlier kickback agreements, the CRRC companies were entitled to retain 15% of each kickback until Transnet had fully paid for the locomotives. This was to cover them against potential claims by money launderers who previously fronted for the Guptas at a 15% fee but got sidelined.
A plausible alternative is that the Guptas had overextended themselves when their Tegeta Exploration and Resources controversially bought Optimum Coal Holdings from Glencore a few months earlier for R2.15-billion. Putting together successful prosecutions were hampered by the pervasiveness of corrupt practice. “In some institutions, it’s hard to pick out people who can credibly give evidence in a criminal trial about what happened because they were either complicit or will struggle to answer questions about what they did to stop what was happening.”
Let's see proof of all your allegations first because you guys seem too desperate now.
PLMyburgh And somebody still thinks jaykop is innocent
We are sick and tired about Gupta's family please bring something else or closed Daily Maverick.
Polly12346 IFC_org BBCWorld WHO EU_Commission eu_eeas AusGov NewZealandGov EnglandGov MoodysInvSvc stat_world questCNN MinPres NEDemocracy
These is a secret company paid R5 billion by eskom during the current tenure of 2 white guys at eskom. Can you do your service to the public because this money is 3 times more than the gupta tegeta deal. Please do the public justice. We want to know
Rubbish recycled. 😂😂😂😂
It’s a relief that many South Africans are now woke and understand white supremacists nefarious agenda. The revolution is near.
Thanks for keeping SA clean, garbage recyclers. Your funders are getting a return on their investment 😂😂😂
Wrong narrative again .
Daily sewerage
This locomotion was presented at Zondo Commission
Ax
This dustbin media house 🤣🤣🤣🤣🤣🤣
Have you seen this one zinja?
REALLY in 2020?
You guys are funny for real
Mxm
seems like a lot of trump fanatics here.either calling those they don’t agree with “bots” or fake news.🤣🤣🤣
Open a case.
Can you please help here too ? Phela nina you do the digging
SamSoleZA sajournalist here is R5bn stolen; please investigate amaBhungane Eskom_SA EskomSpokesper1
🤣🤣🤣🤣 shame,are you for real?
Why can't you guys go to Zondo commission 🤔
Propagandist media. They never exposed paraffin Gordon and white people's corrupt3at SAA but amaBhungane and brings this lies to the people... Voetsek
Me when reading your rubbish article... 😂😂😂
ZeldalaGrangeSA We are tired of this Useless reporting Yazi.
CoruscaKhaya can you bhungane this one?
Fake news at it.
lol shame
Good work.
What irritates me is that there seems to be no action on the looters. Nada
Under ANC government no thief will prosecuted the law is only for the poor pple who always putting them to power to make laws for them not for ANC administration they don't steal now they just take SA money without fear or fever .
Will only be happy when the implicated face the music
How come none of your 'exposés' ever hold or are presented as evidence at the Zondo commission? When are you testifying there with all this evidence?
A fresh R9 billion? When are these patriots returning to help grow the economy? Need all the FDI we can get.
15mm pile length of papers! Good work guys, please go open a case in the nearest police station and also start doing the same job to the Steinhoff saga. We need arrest in both cases ASAP!
It's just beyond my understanding that such corruption and thieving went on with out anyone going to jail or any money has been recouped and most of them live lavish life styles with out any worry of being arrested and all the evidence is there book films documentarys
PLMyburgh And still no-one in jail - or even charged.
3 years ago, you published an EFF-VBS story and you claimed that the evidence you had will stand in court, and 3 years later, no EFF person has been charged with any VBS case🤡
ZeldalaGrangeSA After spreading fake news on a front page with big forth later issue the apology back of the news pages
YAWN😴
Ai not again this BS story,NPA,Hawks,Zondo,Police,FBI etc, all these institutions are not interested in this nosense of yours then why come dump it here?We need today's news taking the country forward not Gupta hogwash!
CoruscaKhaya Y’all keep rehashing this story. All this was presented at Zondo. There’s nothing new here. You are just seeking relevance by repurposing an old article attempting to give it new life. Boring. Stale. And desperate to stay relevant. Unprofessional
Langz82L Why is everyone involved in state capture still free? Where’s the justice system?
Nonsense.
Ai stopo annoying us
You resisted the headline Gravy Trains ... well done. 😅
Ayibuye
Just looking at all the BOTs and those screaming fake news, simply authenticates this article. Amazing stuff by Amabhungane. Pity the NPA are so dysfunctional. Will the PresidencyZA demand answers from China.
Wow wow!!
Take this to state capture, its useless without any information. You must note the difference between commission and a kickback. Kindly check eskom, apparently there is a new looter there.
Take that evidence to the hawks and stop annoying us.
Okay we no longer interested in your propaganda stories
Why are Brian Molefe and Anoj Singh still free? Why is Matshela Koko still free? Why are Lucky Montana and Makhensa Mabunda still free?
And the NPA are sitting on their hands.
You've now done 90% of the work for the Zondo Commission and the NPA.
CoruscaKhaya Gosh that’s old news. None of you have been to the commission to explain this
Useless fake news trying to be relevant. You're dead fake journos. Truth is here on Twitter Streets.
If you really cared about SOEs in this country, how much are the IPP contracts costing Eskom?
PLMyburgh ANC scum stealing SA blind..... R9 000 000 000.00 of our taxes straight to the Guptas....
CoruscaKhaya Fake news again
Watu_JayP There you go South Africans. Now you must surely realize, that’s where your water, power, homes, jobs, and dignity gone. To the Guptas
So what will heppen about it?
Close shop
ancmustfall
Keep on digging.
Fefe70420079 😂😂😂😂😂 There we go, there's zondo commission, if it a state capture, we are enough of gossip now
Case Number?
Where is Shamila Batohi? This is case a low hanging fruit. All these money looted must be returned period.
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