Five former Transnet executives arrested for fraud and corruption

Five former senior Transnet executives have been arrested for allegedly contravening the Public Finance Management Act, fraud, corruption and money laundering.

The Investigating Directorate said the five would appear in the Palm Ridge magistrate’s court sitting as the specialised commercial crimes court on Friday.

“The arrests took place at about 7am this morning [Friday] at Brackendowns police station,” said Investigating Directorate national spokesperson Sindisiwe Seboka.

TimesLIVE