Corporate finance expert Dr Jonathan Bloom told the state capture commission of inquiry that some payments made by Transnet to Gupta-linked consultancy firm Regiments Capital were fraudulent.
The commission investigators commissioned Bloom to probe several questionable finance advisory contracts the state-owned company entered into.
Eyewitness News senior reporter Barry Bateman says on Wednesday the focus was on the interest rate swap.
He was tasked to investigate the various contracts that Transnet had entered into with the likes of Regiments Capital and Trillian.— Barry Bateman, Senior reporter - Eyewitness News
What we heard was that the work was not even done by Regiments. Part of the work was done by JP Morgan but it was Regiments that billed Transnet.— Barry Bateman, Senior reporter - Eyewitness News
Listen to the full interview below...