Contravention of exchange control regulations under scrutiny in Estina fraud case

Jarina Cornel Bekker, an investigator in the South African Reserve Bank’s compliance and enforcement division, was testifying before the Pretoria magistrate’s court in the fraud trial of alleged Gupta associates Kamal Vasram and Saliesh Indurjeeth.

The state alleges they unlawfully told clearing agent UTI South Africa they were importing new dairy equipment worth about $3.4m from a supplier in the UAE in 2014.The suspected overpriced pasteurising plant, which was imported from India, was invoiced to Estina by Gateway Limited in the UAE. Evidence in the public domain suggests Gateway was used and controlled by the Guptas as a conduit to launder money and extract funds from South Africa.

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