Embattled Trillian Capital Partners chief executive Eric Wood has revealed that he will make a major announcement over the buying out of Gupta-linked business associate Salim Essa.
“The restructuring of our business is an absolute necessity now more than ever. That restructuring is to move away from the Gupta link‚” he said.
Wood spoke this afternoon shortly after Trillian chairman Tokyo Sexwale released a damning report into the business activities of Trillian in regards to multi-million rand deals with numerous state owned entities and companies‚ including Eskom and Transnet.
According an independent investigation by Advocate Geoff Budlender‚ which was contained in the report released by Sexwale‚ the deals are alleged to have seen several Gupta companies receive kickbacks from a series of suspected dodgy business dealings.
Eskom‚ according to invoices contained in Budlender’s report‚ paid Trillian‚ in which Essa has a 60% stake‚ over R250-million for various services rendered between April and August 2016. Transnet paid just over R105-million to Trillian between April and June 2016.
Wood said that the move‚ “which has been discussed and planned“‚ would be announced next week.
The announcement is seen as a sign of increasing pressure which is mounting on companies doing business with the controversial family.
Wood distanced himself from the report‚ saying that he had been “relentlessly and unfairly tarred and feathered”.
“I have not been given a proper opportunity to account and state my side. I was anxious to approach Advocate Budlender‚ who I have the greatest of respect for‚ but my proposal of giving a verbal account first and then written submissions‚ was turned down.
“I do not know why. What I can say is that I have never lied. I categorically deny being involved in any corrupt practices.”
He said he had approached Essa on numerous occasions and questioned him about whether he was involved in anything “untoward“.
“Every time he said he was not. I took him at face value. People are innocent until proven guilty.”
Trillian to restructure business to ‘move away from the Gupta link’
Embattled Trillian Capital Partners chief executive Eric Wood has revealed that he will make a major announcement over the buying out of Gupta-linked business associate Salim Essa.
“The restructuring of our business is an absolute necessity now more than ever. That restructuring is to move away from the Gupta link‚” he said.
Wood spoke this afternoon shortly after Trillian chairman Tokyo Sexwale released a damning report into the business activities of Trillian in regards to multi-million rand deals with numerous state owned entities and companies‚ including Eskom and Transnet.
According an independent investigation by Advocate Geoff Budlender‚ which was contained in the report released by Sexwale‚ the deals are alleged to have seen several Gupta companies receive kickbacks from a series of suspected dodgy business dealings.
Eskom‚ according to invoices contained in Budlender’s report‚ paid Trillian‚ in which Essa has a 60% stake‚ over R250-million for various services rendered between April and August 2016. Transnet paid just over R105-million to Trillian between April and June 2016.
Wood said that the move‚ “which has been discussed and planned“‚ would be announced next week.
The announcement is seen as a sign of increasing pressure which is mounting on companies doing business with the controversial family.
Wood distanced himself from the report‚ saying that he had been “relentlessly and unfairly tarred and feathered”.
“I have not been given a proper opportunity to account and state my side. I was anxious to approach Advocate Budlender‚ who I have the greatest of respect for‚ but my proposal of giving a verbal account first and then written submissions‚ was turned down.
“I do not know why. What I can say is that I have never lied. I categorically deny being involved in any corrupt practices.”
He said he had approached Essa on numerous occasions and questioned him about whether he was involved in anything “untoward“.
“Every time he said he was not. I took him at face value. People are innocent until proven guilty.”
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