Where the money went: State case follows trail from metro coffers to ‘fraud syndicate’

The accused and the loot

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As quickly as the money went in, it went out again — with millions of rand siphoned from the Integrated Public Transport System (IPTS) fund and the Nelson Mandela Bay metro allegedly filtered through the bank accounts of some of the high-profile men and women arrested recently on fraud and money laundering charges.

For some, the alleged benefits were more lucrative, allowing them to buy flashy cars and expensive houses cash, while others appear to have settled for far less...

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