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Five former senior executive members of Transnet have been granted bail by Palm Ridge Magistrate Court today, 27 May.
The suspects were arrested in the early hours this morning by the Hawks and National Prosecuting Authority (NPA) in Gauteng.
“The arrest took place around 7 this morning at the Brackendowns Police Station,” confirmed NPA’s Investigating Directorate, Sindisiwe Seboka.
“They are charged with contravention of the Public Finance Management Act, fraud, corruption and money laundering,” said Seboka.
The suspects were arrested in connection to corruption amounting to R93 million following investigations by the Hawks.
The ex-CEO of the company, Siyabonga Gama, also one of the suspects was granted a R50 000 bail.
While, the second accused, Eric wood received R250 000 bail.
The former acting group Chief Financial Officer (CFO), Garry Pita was granted R50 000 bail.
Former treasure, Phetolo Ramosebudi received R25 000 bail.
With Trillian Asset Management Director, Daniel Roy granted R50 000 bail.
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