Standard Bank's Ian Sinton implicates two cabinet ministers in state capture

Standard Bank’s head of compliance Ian Sinton is the first witness from the banking sector to testify at the Zondo Commission of Inquiry into State Capture.

The commission is focusing on the closure of Gupta accounts by some of the country's biggest banks.

Sinton tells the commission that some of the bank's executives were summoned to Luthuli House to explain the decision to terminate Gupta-linked bank accounts.

He says that they were asked if they were part of the white monopoly capital oppressing black people. He adds that they were also asked if they were colluding with other banks on this because Absa at the time was also mentioning its intentions to terminate the Gupta's accounts.

This is according to a report by EWN reporter Gia Nicolaides.

Read: State capture goes beyond the Gupta and Zuma families, study reveals

They were also called to the interministerial committee meeting where the then minister Msebenzi Zwane indicated to them that government had the authority to change the laws that will prohibit them from closing the accounts.

Gia Nicolaides, EWN reporter

He says the purpose of these meetings was really an attempt by Msebenzi Zwane and Mildred Oliphant to change their minds that they cannot close the Guptas accounts.

Gia Nicolaides, EWN reporter

Nicolaides says Sinton directly implicated two cabinet ministers who were persuading it not to close the Guptas accounts.

He says the bank was bullied into changing their minds about closing the Guptas accounts.

To hear the rest of the report by Gia Nicolaides, listen below:


This article first appeared on CapeTalk : Standard Bank's Ian Sinton implicates two cabinet ministers in state capture


Recommended

by NEWSROOM AI
Read More
[LISTEN] Insightful update into the State Capture inquiry

[LISTEN] Insightful update into the State Capture inquiry

Analysis on the commissions of inquiry into state capture and Sars administration with Sikonathi Mantshantsha and Pauli van Wyk.

'Zuma is a master at obfuscation'

'Zuma is a master at obfuscation'

Professor Mark Swilling reacts to Zuma's recent statements surrounding state capture.

Should the Guptas be given special treatment to testify abroad?

Should the Guptas be given special treatment to testify abroad?

Karyn Maughn says the Zondo Commission is set to decide whether they will grant permission for the Guptas to testify via video.

 Guptas willing to testify at Zondo Commission but on their own terms - report

Guptas willing to testify at Zondo Commission but on their own terms - report

The state capture inquiry has heard applications from those implicated in alleged corruption to cross-examine witnesses.

[LISTEN] 'Muthambi says Williams used the inquiry for personal attacks'

[LISTEN] 'Muthambi says Williams used the inquiry for personal attacks'

EWN's Bonga Dlulane gives a summary of the response by Faith Muthambi to Phumla Williams in the state capture commission.

'Where were you Faith Muthambi, what are your credentials?'

'Where were you Faith Muthambi, what are your credentials?'

Bongani Bngwa questions Faith Mutambi's credentials amid Pumla Williams testimony at the #StateCaptureInquiry.

Hawks suspend anti-corruption task team head

Hawks suspend anti-corruption task team head

Hawks spokesperson Hangwani Mulaudzi says they are cooperating with the #StateCaptureInquiry.

Phumla Williams: I was tortured by Faith Muthambi

Phumla Williams: I was tortured by Faith Muthambi

As the state capture commission of inquiry continues, both Duduzane Zuma and the Guptas have applied to cross-examine witnesses.

[LISTEN] 'It is clear Duduzane Zuma was the middleman between State and Guptas'

[LISTEN] 'It is clear Duduzane Zuma was the middleman between State and Guptas'

Investigative Journalist at the Mail & Guardian Thanduxolo Jika gives an analysis of the State Capture Commission of Inquiry.

Popular articles
4 things you should never say if you want to get rich

4 things you should never say if you want to get rich

Don’t ever say or, worse, believe any of these wealth-destroying platitudes, implores personal finance expert Warren Ingram.

'We have evidence that the EFF and Julius Malema took bribes for tenders'

'We have evidence that the EFF and Julius Malema took bribes for tenders'

Arabile Gumede interviews Stefaans Brummer, a journalist at the amaBhungane Centre for Investigative Journalism.

Mail & Guardian: Hawks investigating Floyd Shivambu's Range Rover Sport purchase

Mail & Guardian: Hawks investigating Floyd Shivambu's Range Rover Sport purchase

Investigative journalist Thanduxolo Jika gives details of the report he filed on the EFF leader and the connection to VBS.

[WATCH] 'If this world were mine', grocery store impromptu rendition goes viral

[WATCH] 'If this world were mine', grocery store impromptu rendition goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

Forensic investigator pokes holes in Watson death probe

Forensic investigator pokes holes in Watson death probe

The recent findings of a private pathologist ruled out suicide as the cause of death of the former Bosasa boss.