R10-million was paid directly to Atul Gupta by Estina.
The details are revealed in affidavits attached to a preservation order applied for by the Asset Forfeiture Unit (AFU)‚ which was on Thursday granted by the Bloemfontein High Court which this publication has seen.
The Sunday Times report details how investigators with the AFU found that R19-million had been paid to Stanlib for a fleet of luxury cars and R30m had been diverted to be used as a down payment on the Gupta’s now infamous Bombardier private jet‚ ZS-OAK. Data from the leaked Gupta emails show that the same day R10-million from Estina found its way into Atul Gupta’s personal bank account. It was moved out again almost immediately. Contained in the emails are thousands of daily bank transfer approval requests.
On December 20 2013 key Gupta man Ashu Chawla is asked to approve‚ among others‚ a transfer of R37.7-million from ‘AK Gupta’ to Islandsite Investments.
From there‚ the funds are moved yet again.
R23m is paid from Islandsite to Oakbay‚ the flagship company. Oakbay then pays the same amount on to JIC Mining Services‚ the largest company within the mining division of Oakbay Investments.
JIC contracted to several platinum mining companies in South Africa‚ providing legitimate mining services. R15-million is also paid from Islandsite to Sahara Computers‚ which in turn pays R4.1m to Annex Distribution.
Over the next few weeks multiple payments are made from Sahara’s account to various suppliers and other Gupta businesses.
A further R13m is moved from Oakbay to Islandsite to JIC on January 6 2014 and a week later R3m is moved from Aerohaven Trading‚ another company that Estina monies was paid to‚ to Oakbay and again on to JIC. From there the trail grows cold according to data in the leaked emails.
No data is available to show where the money flows from JIC.
This type of money movement has been described by experts as ‘layering’ – an effort to move funds while obscuring the origin.
According to Oakbay financial statements mining‚ which includes JIC as the biggest money maker‚ contributed to 45% of Oakbay’s total R1.2bn revenue for the year ended February 2016.
Islandsite and Oakbay‚ in which President Jacob Zuma’s son Duduzane held shares‚ is among the companies now slapped with the preservation order.