2 days ago
Former Transnet bosses granted bail of R50,000
The Palm Ridge specialised commercial crime court in Johannesburg has postponed the case against former Transnet CEO Brian Molefe and his three co-accused to October 6 for further investigations.
The four were granted bail of R50,000 each after Monday's brief court appearance.
Molefe is charged together with Anoj Singh, former CFO, another ex-CEO Siyabonga Gama and Thamsanqa Jiyane, who was the chief procurement officer in the Transport Freight Rail division.
They are facing 18 charges that include contravention of the Public Finance Management Act, fraud, corruption and contravention of the Companies Act.
The charges relate to Transnet's plan to modernise the country's rail infrastructure which allegedly led to tender processes being flouted and inflated prices being paid.
