The National Prosecuting Authority says it is looking to sell the Optimum coal mine to recoup State Capture funds.
The NPA says this is one of the many ways it is seeking to recoup proceeds of state capture as recommended in the Zondo Commission Report on State Capture.
Spokesperson, Sindisiwe Seboka says following the recommendations by the Commission, they have lodged a forfeiture application for Optimum Coal Mine to Optimum Coal Terminal to the tune of more than R3.4 billion.
The application seeks to have the shares owned by Tegeta Exploration & Resources (Pty) Ltd to be forfeited to the state on grounds of having been acquired through proceeds of unlawful activities and the instrumentality of money laundering under the Prevention of Organised Crimes Act (POCA).
Seboka says they already obtained a preservation order handed down by the Pretoria High Court in March.
She says the court ruled on two interlinked matters.
The first pertains to all Gupta-owned Tegeta shares in Optimum Coal Mine (OCM) and Optimum Coal Terminal.
The second relates to the claim of R1.3 billion of Templar in relation to OCM, also preserved.
This takes the total preservation to R3.4 billion.
Seboka says in court papers, the underlying claim to the Templar stake preserved are funds that were advanced by the Gupta family Dubai Company, Griffin Line Trading LLC, a company nominally controlled by Ajay Gupta’s son, Kamal Singhala.
She says the owner of Templar, Daniel McGowan has himself stated under oath that the funds advanced by Griffin Line derived from money stolen from the South African government and laundered via Singhala on behalf of his father and wider family members.
