THE R400 million fraud and corruption trial against former Transnet executives, including former CEOs Brian Molefe, Siyabonga Gama, and CFO Anoj Singh, is expected to start in June.
The three appeared in the Palm Ridge Specialised Crimes Court on Thursday, 20 April.
Prosecutor Peter Masiakwala told the court that the state was ready to proceed with the matter, but the defence requested more documents and contents of the docket.
He said the issue would be resolved before the next court appearance.
The former executives are charged alongside former Transnet CFO Garry Pita, Regiments Capital directors Niven Pillay and Litha Nyhonhya, former treasurer Phetolo Ramosebudi, Regiments shareholder Eric Wood, Trillian Asset Management current director Daniel Roy (Novum Asset Management), Albatime owner Kuben Moodley, and McKinsey & Co.
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They are facing more than 50 charges of contravening the Public Finance Management Act, fraud, corruption and money laundering stemming from the locomotives transaction advisory tender, which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1 064 locomotives worth over R54 billion.
Regiments Capital was irregularly on-boarded and ended up benefiting from the appointment by Transnet.
The contract value and scope for the services required later escalated to more than R305 million.
This agreement included, among other services, the sourcing of the China Development Bank loan and Club loan, amounting to $2,5 billion (about R30 billion at the time) on behalf of Transnet.
The group also faces charges linked to the R93,4 million paid to Trillian Asset Management in 2015.
They were arrested on different occasions between September 2021 and August 2022, and are all out on bail.
Wood applied for his bail conditions to be relaxed to travel overseas to visit his daughter and elderly mother.
The state did not oppose the application and it was granted by Magistrate Brian Nemavhidi.
The matter was postponed to 29 June.
