Transnet R400m fraud and corruption case postponed to June

The R400m Transnet fraud and corruption case has been postponed to June 29 as accused Eric Wood gets his bail conditions relaxed to travel to the UK and the Canary Islands.

The 11 accused include former group CEOs Brian Molefe and Siyabonga Gama, former CFOs Anoj Singh and Garry Pita, and former group treasurer Phetolo Ramosebudi.

They appeared with Regiments Capital directors Niven Pillay and Litha Nyhonyha, ex-Regiments shareholder Wood and his employee Daniel Roy, and Kuben Moodley, owner of Albatime, in a case involving more than 50 counts of fraud and corruption. 

Another accused is Goitseone Mangope, who appears as a representative of multinational management consulting firm McKinsey South Africa. He was added in the case in October.

Prosecutor advocate Peter Masiakwala told the Palm Ridge specialised commercial crimes court on Thursday the state would have complied with the requests for documentation from some of the accused before their next appearance.

Wood has lodged an application for his bail conditions to be relaxed as he intends to travel overseas. The application was heard by the court after the postponement was granted. He said he intends to travel twice in April and December to visit his daughter in London and his elderly parents.

Wood wants the investigating officer to return his travel documents, a South African passport and a British passport, to allow him to travel.

Last year, Wood, brought a similar application, which was also granted, and travelled to the UK and Grand Canaria to visit his daughter and parents respectively.

The state did not oppose the application which was granted by magistrate Brian Nemavhidi.

Wood is expected to hand over his travel documents within three days of his return to the country.

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