News24 | Ex-Transnet bosses Molefe, Gama and Singh granted R50k bail over fraud, corruption charges

Former Transnet executives Brian Molefe and Anoj Singh.

Former Transnet bosses Brian Molefe, Anoj Singh and Siyabonga Gama have been granted bail by the Palm Ridge Magistrate’s Court.

Molefe and Gama, both former Transnet CEOs, were arrested alongside former Transnet CFO Anoj Singh and the parastatal’s former engineering chief executive Thamsanqa Jiyane on Monday, after they surrendered themselves to police in Brackendowns, south of Johannesburg.

Their bail was set at R50 000 each. The State did not oppose their bail applications.

The four accused have been charged with fraud, corruption, and contravention of the Public Finance Management Act and the Companies Act.

According to the NPA’s Investigative Directorate Against Corruption (IDAC), the matter is related to Transnet’s acquisition of the 1 064 locomotives dating back to 2014, which were supposedly needed to meet a rail-freight revival.

More to follow.

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