Gupta-linked businessman ordered to explain R8.3m hidden in safety deposit boxes

DURBAN, SOUTH AFRICA – JUNE 23, Kuben Moodley during day 2 of the MTN SuperSport Shootout at Zimbali Coastal Resort on June 23, 2012 in Durban, South Africa
Photo by Anesh Debiky / Gallo Images

Businessman Kubentheran Moodley has been ordered to appear at the high court in Gauteng regarding R8.3m stashed in safety deposit boxes.

The order was made by the NPA’s investigative directorate as he failed to provide satisfactory disclosure to curator Mike Stewarts on Friday.

The directorate’s spokesperson, Sindi Thwala, said Moodley failed to comply with Judge Brian Spilg’s order issued on Monday that he provide full disclosure of his property.

“The property is held in safety deposit boxes, valued at an estimated value of R8.3m … The contents include money, plus unvalued diamond watches, other jewellery and personal documentation of his offshore trusts,” said Thwala.

Spilg has since ordered that Moodley give evidence and be cross-examined about what happened to the contents of the personal vaults.

“Moodley is also required to give details about who Mr X is, and his debt collector. Mr X is a man Moodley claims he handed over the contents of the safety deposit boxes to, in payment of a debt, a debt Moodley claims he was threatened to pay immediately upon receipt of the vaults.

“He is also expected to clarify how much he loaned from Mr X, the terms of the loan and what he did to dispose of the loaned amount,” said Thwala.

Moodley is expected to appear on Tuesday at midday, with his hearing expected to be held virtually.

We will be happy to hear your thoughts

Leave a reply

Report RSA News
Enable registration in settings - general