SA banks must explain account closures - Gupta lawyer

Court documents filed by Finance Minister Pravin Gordhan revealed that the Financial Intelligence Centre flagged a history of "suspicious" transactions made by the Gupta family and companies owned by them.

The transactions amount to R6.8 billion.

Gupta lawyer, Gert van der Merwe, says none of the payments listed in Gordhan's documents are suspicious. He says he has advised his clients to prepare a list of each and every payment so that this can be presented to court.

In response to the R1.3 billion transaction involving the money from the Mining Rehabilitation Fund for Optimum, van der Merwe says it is no secret that the banks closed all their bank accounts.

He says the family had to open a new account with a new bank which also holds the Optimum Rehabilitation Fund.

He submitted proof to Thuli Madonsela last Thursday.

I am flabbergasted by the allegations that the money has disappeared, I don't know where that comes from.

Gert van der Merwe, Gupta Family Legal Representative

Van der Merwe says he is going to force the banks to disclose the reason they decided to close the Gupta's bank accounts as it is unfair for business.

Listen to the full conversation below:

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