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New York court grants IDC order to have access to Gupta family financial records

21 September 2020 12:44 PM
Tags:
Gupta
Gupta family
Money laundering
USA

News24 journalist Kyle Cowan gives more insight on what the ruling will mean for the attempt to prove that money was laundered.

A New York judge has granted a secret court order giving the Industrial Development Corporation of South Africa Ltd (IDC) access to the Gupta family financial records held at more than a dozen banks in that city.

News24 reports that the records are a potential game-changer for South African authorities who have been trying to prove money laundering on a global scale.

RELATED: Guptas, Salim Essa cannot do business with us, says US government

Mandy Wiener chats to News24 journalist Kyle Cowan, who has more on this story.

The Guptas moved a lot of money they made in South Africa overseas and what the IDC has uncovered is that a lot of these transactions were done in dollar amounts. These amounts have to be channeled through somewhere.

Kyle Cowan, Journalist - News24

The IDC has been given access to these financial records but that will be subject to non-disclosure agreements with the banks themselves and the Gupta family also wants protection.

Kyle Cowan, Journalist - News24

Listen below to the full conversation:


21 September 2020 12:44 PM
Tags:
Gupta
Gupta family
Money laundering
USA

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