Federal Bureau of Investigation launches probe into Guptas over cash flows

Nick Sanchez
Октября 20, 2017

In a separate report, the FT reported that Britain's finance minister had asked United Kingdom financial enforcement agencies to investigate possible links between the Gupta family and HSBC and Standard Chartered banks.

The leaks comprised hundreds of thousands of documents and emails detailing the family's involvement in state capture, involving state-owned entities and high-ranking government officials and politicians, including President Jacob Zuma and his family.

Standard Chartered closed some bank accounts linked to the Gupta family in South Africa in 2014, a spokeswoman for the bank said on Thursday.

The FT reported that the Federal Bureau of Investigation has been probing the issue for some time, and will continue to investigate companies and individuals tied to the family, and allegations of corruption.

Explaining his reasons for asking for probes of HSBC and Standard Chartered, he says that the majority of the funds in question flowed through the UAE and Hong Kong, where the two banks have their biggest footprints.

In South Africa, the scandal has already ruined British public relations company Bell Pottinger and damaged auditors KPMG, which removed its top executive team in the country. They both have denied the claims.

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South African banks like Standard Bank and Nedbank terminated all their business with Gupta-owned companies in April 2016.

The three Indian-born Gupta brothers are at the heart of South Africa's biggest post-apartheid outcries over their alleged use of a friendship with Mr Zuma to control state businesses.

It's being reported that the FBI is investigating cash flows between South African Gupta-owned companies, Dubai and a company owned by Ashish and Amol in the United States.

He said it has been estimated that around £400m could have been laundered through financial institutions in South Africa.

According to letters seen by the Guardian, Chancellor Philip Hammond has passed concerns raised by former Labour cabinet minister Peter Hain to the Serious Fraud Office (SFO), National Crime Agency (NCA) and the Financial Conduct Authority (FCA).

He pointed to court filings by South African finance minister Pravin Gordhan about 6.8bn ZAR (£380m) in transactions involving the Guptas that were reported to South African anti-money laundering regulators.

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