Moodley is charged with fraud, theft and money laundering pertaining to a fund of R307-million.
“Last night (September 28) the Investigating Directorate (ID), working with members of the SAPS seconded to the ID, arrested Moodley as he was boarding an international flight to Dubai at 19:00 in the evening,” said Sendisiwe Seboka, spokesperson for the NPA ID.
“The ID has already obtained a restraint order over Moodley and Albatime’s assets to the value of R232-m in June 2020 and the Johannesburg High Court confirmed the final restraint order on November 28, 2020. A case of contempt of the restraint order is still pending against Moodley.”
The charges relate to payments made into two of Moodley’s companies, Albatime Pty Ltd’s, bank accounts that come from contracts improperly awarded by Transnet to Regiments Capital and Trillian Capital, as well as theft by Regiments Fund Managers from the Transnet Second Defined Benefit Fund.
“The Investigating Directorate alleges that the payments relate to a criminal scheme in which Moodley would receive kickbacks of three percent on a R189-m payment that Transnet made to Regiments Capital and a payment of R56-m which Regiments Fund Managers stole from the Transnet Second Defined Benefit Fund,” said Seboka.
“He is charged with allowing Albatime accounts to be used to launder 75% of the R189-m and R56-m through to entities controlled by the Gupta family.
“This arrangement was then transferred to Trillian when the Regiments directors parted ways and Albatime laundered through to the Gupta Company, Tegeta, 80% of a Transnet payment of R93.4-m made to Trillian Asset Management. Moodley is also accused of using these proceeds to assist members of the Gupta family to acquire Optimum Coal Mine for Tegeta.”
The matter was postponed till February 28, 2022.
