Former Transnet executives, Siyabonga Gama & Brian Molefe, arrested over R93 million locomotive tender fraud
Brian Molefe is a current member of Parliament for the MK party led by former president Jacob Zuma.
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The charges relate to a 2012 tender for locomotive transaction advisory services awarded to a consortium led by McKinsey & Company - a global management consulting firm.
Charges include an amount of R93 million given to Trillian Capital, a company with alleged ties to the Gupta family, for securing funding for locomotive purchases.
Additionally, the contract for 1064 locomotives was allegedly initially awarded to global investment bank JP Morgan in May 2015, but was cancelled and subsequently awarded to Trillian Capital in October 2015. Investigations allege that a payment of approximately R93.4 million was made to Trillian Capital on December 3, 2015, after an invoice was submitted by Daniel Roy, a director Trillian.
The payment was reportedly approved by Garry Pita and Gama.
Three days after receiving the payment, Trillian Capital transferred R74 million to Albatime, a company owned by Kuben Moodley, without any known reason, according to Investigative Directorate.
The matter is also included in a forensic report and the findings of the Zondo Commission, which implicated Molefe and others in siphoning funds from Transnet, the state-owned entity responsible for rail and port operations. The commission recommended that the police investigate Molefe, Gama, and others for their alleged roles in corruption.
A 2018 forensic report also found that Molefe misled the Transnet board about the project's costs and entity's obligation to inform the then-public enterprises minister Malusi Gigaba about the spike in costs.
The estimated cost of the project increased significantly, from approximately R38 billion in 2012 to over R50 billion.
Other accused individuals include former CFO's Anoj Singh and Garry Phita, former treasurer Phetolo Ramosebudi, Regiments Capital Directors - Litha Nyhonyha and Niven Pillay, Regiments shareholder - Eric Wood, and Trillian Asset Management director - Daniel Roy.
All the accused appeared at the Palm Ridge Magistrates Court today, Monday, June 30, 2025, where they applied for bail.
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