#GuptaLeaks – How the Guptas paid for Zuma’s home using laundering scheme

Credits: www.amabhungane.co.za

Just ahead of the Vote of No Confidence vote set to kick off at 2pm today, fresh allegations have emerged about how the Guptas bought his fourth wife’s home in Waterkloof Ridge, Pretoria.

The emerged email trail reveals how cash was shifted, banks were lied to, and media were deceived over the multi-million rand purchase.

The home which is set upon the exclusive Waterkloof Ridge, it overlooks Pretoria and the Union Buildings. The property was bought for R5.24-million in April 2010 and became Ngema-Zuma’s [Zuma’s 4th wife] home.

Now here’s how the Gupta’s laundered money funded the purchase..

The Deeds office records of the transfer identified the Sinqumo Trust which is named after her young son – as the buyer, and Ngema-Zuma as its trustee. However, the trust not publicly listed as a normal property would.

Sinqumo is omitted altogether from the department of justice’s website. The day after the deeds office effected the transfer to the Sinqumo Trust, R1.15-million was paid into Sinquomo’s current account.

R3.84-million of the R5.24-million purchase price was bond financed by Bank of Baroda, the Guptas’ favourite lender. The leaked documents highlight the Indian billionaires and Duduzane Zuma – partners in crime – paying off the bond at R65,000 a month

Records show that Gupta money was routed through Mabengela Investments, a company named after the hills surrounding JZ’s Nkandla residence, to pay the Waterkloof Ridge bond: They are owned by Zuma Junior and Rajesh “Tony” Gupta.

Those R65,000 payments which served as the first three instalments for September, October and November 2010 are the child of Gupta/Zuma money laundering.

Accounting records show that the cash made its way from Mabengela to Islandsite Investments and through Oakbay Investments… Both companies owned by the Guptas.

Among these, Oakbay paid R150,000 to Mabengela on 2 September 2013. Immediately after receiving the funds, Mabengela transferred R535,000 to Sinqumo’s account at Baroda.

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