Gupta Brothers of South Africa may be associated to Transnet Loco deal

The Gupta Family in South Africa is now a known name in the money laundering world. They are known for any and many deals involving laundering of money.

According to the new allegations by the UK Parliamentarian, Lord Peter Hain, he produced the evidences to the Treasury which include the 21% kickbacks from South China Rail transferred to Gupta Brother HSBC accounts in Hong Kong, amounting to about R5bn over two years.

These relate to the now infamous Transnet locomotive deal. The records show how the Guptas would then split the money into multiple accounts in a typical money laundering fashion through multiple transfers. Also, money was transferred to HSBC accounts in Dubai.