Charles King SA's owner seems to have shady past with the Guptas

The controversial Gupta family made an announcement on Wednesday that it is letting go of its Tegeta Exploration and Resources business, selling it to a Swiss-based firm - Charles King SA - for over R2.9 billion.

Amabhungane, through the #GuptaLeaks, has now revealed that the man buying Tegeta has helped the family hide their interest in the past. The family has allegedly had questionable dealings with him while in Dubai.

EWN reporter, Barry Bateman says the buyer has been identified as Amin Al Zarooni.

We understand, according to Oakbay, that this company was bought specifically as a vehicle to facilitate the investments or purchase of Tegeta mining interests.

Barry Bateman, EWN senior reporter

According to Bateman, Charles King SA was established in 2011 as a company trading in fashion - clothes and shoes. But about a month ago it changed its portfolio to include holding shares in industrial and commercial developments.

It has now been revealed that the change of portfolio was done in the same week when Mzwanele "Jimmy" Manyi was made the director of a company called Lodidox.

On Monday an announcement was made that Gupta owned-Oakbay sold its shares in the media companies to Lodidox, in a vendor-financed deal.

It appears there is a timeline correlation between getting things going to offload these assets on to other companies by the Guptas.

Barry Bateman, EWN senior reporter

To hear more of this report by Barry Bateman, listen below:


702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
It's difficult to gage if sales a sign of Gupta SA exit - analyst

It's difficult to gage if sales a sign of Gupta SA exit - analyst

The Gupta family has sold ANN7, 'The New Age' and Tegeta Exploration and Resources in recent days.

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Why is its registered address that of a violin shop? Bruce Whitfield interviews Intellidex’s Stuart Theobald.

Gupta-linked Charles King SA's director named in Panama leaks - Barry Bateman

Gupta-linked Charles King SA's director named in Panama leaks - Barry Bateman

Oakbay sold its Tegeta mining interests to a little-known Swiss company that trades in fashion products, clothing and shoes.

Godi agrees Gigaba's incriminating Treasury report U-turn smacks of protection

Godi agrees Gigaba's incriminating Treasury report U-turn smacks of protection

Malusi Gigaba told Parliament that a report submitted to Scopa marked final is not, in fact, the final one and must be withdrawn.

The lowdown on state capture starring Anoj Singh and Eskom

The lowdown on state capture starring Anoj Singh and Eskom

Investigative journalist Sabelo Skiti helps makes sense of 'the enabler' Anoj Singh's career history and role in state capture.

Popular articles
7 tips on how to keep your child safe in public

7 tips on how to keep your child safe in public

Social worker and Childline manager Faiza Khota shares practical advise on how to help protect children in public spaces.

Soon you may not be able to light up in public (indoors or out!)

Soon you may not be able to light up in public (indoors or out!)

The Dept of Health is looking to introduce draft legislation that includes a complete ban on all smoking in public areas.

'KZN nudist beach would be a draw card for international tourism'

'KZN nudist beach would be a draw card for international tourism'

Chairman of KZN Naturists Association Christo Bothma says having the section of the South Coast beach will boost the economy.

New drug known as 'flakka' hits Durban

New drug known as 'flakka' hits Durban

Sam Pillay, founder and director of Anti-Drug Forum SA says once the drug takes effect, the user appears possessed.

The President's Keepers: PDF version is tantamount to theft - Exclusive Books

The President's Keepers: PDF version is tantamount to theft - Exclusive Books

A PDF version of the book has been doing the rounds since Sars and the State Security Agency threatened legal action.

Falling out of love? Signs and stages of romantic disengagement

Falling out of love? Signs and stages of romantic disengagement

Can you love your partner, but no longer be in love with them? Dr Eve unravels stages of disaffection in romantic relationships.

Celibacy liberated me - Amanda Ndiki

Celibacy liberated me - Amanda Ndiki

Author Amanda Ndiki, celibate for 6 years describes her journey and how celibacy helped mend her sense of self.

'The university degree is dead'

'The university degree is dead'

Flux Trends founder Dion Chang gives five reasons why he believes getting a degree is past its sell by date.