Asset Settlement Unit to seizes Gupta assets

The Public Prosecuting Authority has signed confiscation orders under which the Asset Settlement Unit will today seizes the assets of the infamous Indian family. Assets worth R1.6 billion are affected.

The unit asked for applications in three court cases and a trustee will be appointed to oversee the assets. According to the application, the assets were acquired through criminal acts.

The application would be accompanied by orders of arrest of persons involved in the relevant cases. It is expected that one of the Gupta brothers will be arrested but it is not sure who it will be.

Minister of Minerals, Mosebenzi Zwane, is also involved.

Seizure will be made on assets as well as monies in banks, locally and abroad.

Observers believe that the timing can favor the position of the Public Prosecutor, Shaun Abrahams. It is speculated that the ANC may decide at its next meeting to replace Abrahams, but the fact that he has now issued warrants to combat statehood can hamper plans to replace him.

Photo: The Gupta brothers

The original article can be found on Die Vryburger


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