In 2016, The Guptas denied allegations that they bought Zuma’s wife costing R5.24 million
– However, records provided tell a completely different story
– According to those records, Duduzane Zuma and the Guptas paid R3.4 million on the property’s bond, as well as a R1.15 million deposit
The Gupta family’s PR and reputation firm, Bell Pottinger, sent Gupta lieutenant Santosh Choubey a document entitled “Master Q&A”, which contained answers for the media, on 9 February 2016.
Their response the question “Did the Guptas help President Jacob Zuma’s wife, Bongi Ngema-Zuma, pay off her R3.8-million home loan?” was “No. This story is completely false. The Gupta family has not assisted Bongi Ngema-Zuma in any way.”
However, bank records, accounting records, and budgets showed the Guptas and Duduzane Zuma payed R3.4 million of the property’s bond.
That’s not taking into count the R1.15 million deposit, which along with the R3.4 million paid off, totalled an estimated R4.5 million for the property of Ngema-Zuma.
The property, which is build on the Waterkloof Ridge and has a view of Pretoria and the Union Buildings, was purchased for R5.24 million in April 2010.
The house, which became Ngema-Zuma’s home, was reported inspected the president himself prior to the purchase.
The venture between Duduzane, who did not do business with the corrupt family on his own accord, as his father claimed, and the Guptas meant the head of state’s wife, and to some extent the Zuma himself, gained financially from proceeds of corruption laundered from Dubai, The Daily Maverick reported.
Legal documents showed Sinqumo Trust was the buyer and Ngema-Zuma the trustee.
The trust, which is named after Zuma and Ngema-Zuma’s son, is excluded from Public lists on the department of justice website, which usually showed trustees, along with other details.
When amaBhungane attempted to inspect the trust records, the master of the high court in Pretoria said the records could not be found.
This made it impossible to establish whether or not Zuma was a trustee alongside his wife, or if he has rights to the trust assets.
However, despite a lack of evidence that Zuma was connected to the trust, he benefits, seeing that the property is home to his wife and son. A witness also claimed that Zuma visited the premises often.
Briefly.co.za gathered that R3.84-million of the R5.24-million purchase price was bond financed by Bank of Baroda, the Guptas’ choice of lender.
But, when amaBhungane asked a Gupta spokesperson in 2011 whether the family had helped Ngema-Zuma to buy the property by paying the purchase price, facilitating financing or helping repay the bond, he claimed the answer to all their questions was no.
So, when amaBhungane presented the Guptas with more evidence in 2012, that linked them to the bond, their senior executives maintained it was irrelevant and absolute rubbish.
The #GuptaLeaks showed the bond was maintained by the Guptas and Duduzane Zuma generally at a rate of R65k from the outset monthly.
Their evidence also showed on 18 August 2010, the day following the deeds office effected, R1.15 million was transferred into Singumo’s current account, which came from the Gupta company Islandsite Investments via Pragat Investments.
When looking at the records, this was the exact amount of the down payment. Read
By: Maryn Blignaut/Briefly