SIU raids Gupta-linked Alexander Bay Diamonds Company
The Special Investigating Unit (SIU) swooped on the Killarney offices of the Gupta-linked Alexander Bay Diamonds on Thursday morning.
The search and seizure operation came after the SIU was granted a warrant by the Johannesburg Magistrate’s Court on Wednesday.
The unit is investigating claims that the controversial Gupta family may have sold diamonds belonging to the state.
Spokesperson Kaizer Kganyago says state-owned entity Alexkor appointed the diamond company to improve the sale and marketing of state-owned diamonds.
However, the diamonds were sold below market value.
"Alexander Bay has refused to disclose the identity and details around the sale of diamonds to Alexkor and its chief executive officer, citing none disclosure agreement signed with buyers of state diamonds. The company also failed to disclose the details around the sale of diamonds to the state capture commission.
“The SIU received a tip-off from a whistleblower that there is alleged serious maladministration in the affairs of Alexkor, in respect of the marketing, valuation, sale and beneficiation of diamonds. The raid of Alexander Bay offices is crucial for the SIU to complete its investigation in the affairs of Alexkor.”
SIU investigators have taken all the documents and electronic devices needed for the investigation.#SIUWorkingForYou pic.twitter.com/JVknAbDuRQ
— Special Investigating Unit (SIU) (@RSASIU) August 11, 2022
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