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Gupta associate Eric Wood allowed to travel to Europe despite fears he may not return
Eric Wood, who is one of the accused in the R93 million graft case over a Transnet locomotives deal, applied for his bail conditions to be relaxed.
From left to right: Kuben Moodley, Albatime Pty Ltd owner, Regiments shareholder Eric Wood, and former Group Chief Executive of Transnet Siyabonga Gama appear at the Palm Ridge Specialised Commercial Crimes Court on 29 August 2022. Photo: Gallo Images/Daily Maverick/Felix Dlangamandla
The former director of Gupta-linked Regiments Capital Eric Wood has been allowed to travel out of South Africa.
Eric Wood, who is one of the accused in the R93 million graft case over a Transnet locomotives deal, applied for his bail conditions to be relaxed on Tuesday.
He was arrested earlier this year, and released on bail of R250 000 on the condition that he hand over his passport.
ALSO READ: Eskom recovers R30m unlawfully paid to Brian Molefe’s pension fund
The Palm Ridge Specialised Crimes Court acceded to his application on Wednesday, despite opposition by the State that he has South African and British passport and that monitoring his movements would become “extremely difficult”.
The State also argued that Wood had no family connection in South Africa and his assets are under restraint.
Wood lodged an application requesting the court to allow him to travel to the United Kingdom and Spain to visit his parents and daughter between 10 and 30 September 2022.
Magistrate Nemavhidi Brian set out conditions that Eric Wood be provided with his passports. However, he must hand them back within five days to the investigating officer once he has returned to South Africa.
Nemavhidi ruled it was “mere speculation that if given his passports, he may not return”.
Wood and his co-accused, who include former Transnet bosses Brian Molefe and Siyabonga Gama, former CFO Anoj Singh and former acting CFO Garry Pita, are scheduled to be back in the specialised commercial crimes court in Palm Ridge on 14 October.
Molefe, Singh and Regiments Capital directors Niven Pillay and Litha Nyhonyha, were granted bail of R50 000 each in the fraud and corruption case against several former Transnet executives last week.
Meanwhile, Eskom has confirmed that it has successfully recovered the R30 million it unlawfully paid to former Chief Executive Officer Brian Molefe’s Pension and Provident Fund (EPPF) during 2016.
In July 2022, the North Gauteng High Court re-affirmed a 2018 high court judgement that had reviewed and set aside a 2016 early retirement agreement between Molefe and Eskom.
ALSO READ: Brian Molefe, Anoj Singh, more former Transnet executives arrested
