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:

Read More
Cost of living sky rockets while salaries shrink (and what you can do about it)

Cost of living sky rockets while salaries shrink (and what you can do about it)

Consumer journalist Wendy Knowler provides tips for consumers to manage life better in these trying economic times.

Manana hasn't really apologised, just pulled a publicity stunt - Gasa

Manana hasn't really apologised, just pulled a publicity stunt - Gasa

According to gender, politics and culture analyst Nomboniso Gasa, Mdu Manana in his video was simply announcing his resignation.

The issue of drugs has taken over our schools - Panyaza Lesufi

The issue of drugs has taken over our schools - Panyaza Lesufi

Gauteng education MEC, Panyaza Lesufi wants to introduce drug testing for high school learners before being admitted to a school.

"Hanekom is being punished for calling Zuma to step down"

"Hanekom is being punished for calling Zuma to step down"

Political analyst, Ranjeni Munusamy, says the ANC wants to make example of Hanekom and anybody who would want to follow suit.

This is incredibly embarrassing for both countries - SAIIA Head of Governance

This is incredibly embarrassing for both countries - SAIIA Head of Governance

On Saturday international relations minister Maite Nkoane-Mashabane granted diplomatic immunity to Grace Mugabe.

Rugby Championship 2017: Springboks vs Argentina

Rugby Championship 2017: Springboks vs Argentina

Rugby commentator Xola Ntshinga says the Argentine's are not a team to be taken lightly especially after a loss in Durban.

Popular articles
Home Affairs to follow up on special dispensation permit for Zimbabweans in SA

Home Affairs to follow up on special dispensation permit for Zimbabweans in SA

Home Affairs Minister Hlengiwe Mkhize says her department will respond to all Zimbabweans under special dispensation.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Getting to know MP, Dr Makhosi Khoza

Getting to know MP, Dr Makhosi Khoza

Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.

10 sexting tips on how to keep things spicy (and safe)

10 sexting tips on how to keep things spicy (and safe)

Interested in sexting but worried about the risks? Dr Eve has created a guideline to help you 'sext' in a fun and responsible way.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?