Bloemfontein (SA): In a significant legal victory for the Gupta brothers, Atul and Rajesh, the Bloemfontein high court in South Africa has acquitted all five accused persons in a case of alleged “state capture” and money laundering, terming the evidence inadequate and the testimony false. “The audacious manner in which this matter was investigated is truly to be lamented,” said acting Judge Nompumelelo Gusha. “To say that the manner in which the case was conducted is comedy, would be the understatement of the millennium,” the judge added.
The accused were on trial in connection with a 24. 9-million rands feasibility study conducted by Nulane Investments. They included Islandsite Investment CEO Ronica Ragavan, directors of Nulene Investment Company, Iqbal Sharma and Dinesh Patel, and two government officials.
The South African government had also issued a red corner notice for Atul and Rajesh Gupta, who are now based in Dubai, in connection with the case. However, in February this year, the Dubai court dismissed the South African government’s extradition request as the prosecution had presented fake and forged documents before the court. The prosecution is still unsuccessful in proving any connection between the transaction in Atul and Rajesh’s bank accounts.
During the course of the trial, state witness Shadrack Cezula’s testimony was found to be evasive and dishonest. University of Pretoria senior law lecturer Llewelyn Curlewis said it was disturbing that the matter was also being used to extradite the Gupta brothers, Rajesh and Atul. “I can’t suggest that South Africa would have been successful with the extradition,” he said.
Speaking through their lawyers, the Gupta family said they welcomed the acquittal. “Justice was done,” they stated. “Of importance to note is that the court severely criticised the investigation done by state bodies. Had the investigation been done properly, no charges would have been brought in the first place. It is lamentable that people’s lives can be so disrupted by such a poor investigation and such poor decisions.”