Standard Bank To Testify At State Capture Inquiry

Zondo commission - Standard Bank To Testify At State Capture Inquiry

The state capture commission has heard how money has been laundered from state-owned enterprises like Eskom and Transnet through Standard Bank as part of the state capture project.

The commission’s legal team announced on Wednesday that the bank’s Ian Sinton will testify about its role early next month. The team has set the scene for the coming three weeks of testimony on Eskom by presenting reports that it will use as it deals with the corruption and alleged capture of the power utility.

The commission’s Advocate Vincent Maleka says that Standard Bank will testify about suspicious transactions out of some state-owned enterprises.

“And Standard Bank raised concerns around those accounts and the way money and balances were moving in those accounts and Standard Bank called for explanations.”

He explained why this testimony is important for the commission.

“The evidence becomes important as a vital way of proving how money was laundered through state-owned entities and different components of accounts holders who had nothing to do with the services purportedly provided by contractual partners of Eskom and or Transnet.”

Yesterday, deputy Chief Justice Raymond Zondo was urged to invoke his powers and compel those who are implicated in the corruption and capture of Eskom to appear before the commission.

The commission resumes this morning and will deal with the parliamentary report on Eskom.


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