FBI launches probe into the Guptas: report
The federal bureau of investigation (FBI) has launched a probe into US ties to the Gupta family, the Financial Times reports.
According to the Financial Times, the FBI probe will be focused, in part, on Ashish and Amol Gupta, nephews of the South African Gupta brothers.
The leaked trove of emails – dubbed the “Gupta leaks” – revealed that the Guptas in South Africa sought to employ their nephews locally in 2013, the FT said.
The Gupta nephews are named as directors of Brookfield Consultants, a Houston-based company. According to documentation seen by the Financial Times, Brookfield received payments to a US from Accurate Investments in 2014 – the company implicated in the alleged laundering of R30 million, ties to the 2013 Gupta wedding.
The FT reported that the FBI has been probing the issue for some time, and will continue to investigate companies and individuals tied to the family, and allegations of corruption.
UK authorities get involved
In a separate report by the Financial Times, UK authorities have been urged to investigate two financial groups – HSBC and Standard Chartered – for possible ties to the Guptas.
Concerns were raised by lawmakers that the banks may have handled potentially illicit funds linked to the family in Hong Kong and Dubai.
The UK’s Financial Conduct Authority said that it has already been in contact with the banks, and was considering their responses, according to the FT.
Money laundering allegations
Both the UK and US probes are directly related to allegations of money laundering in 2013, around the time of the infamous Gupta wedding, which was thrust into the spotlight when wedding guests bypassed South African laws by landing at the Waterkloof air base.
According to email correspondence exposed via the Gupta leaks, Gupta owned businesses were shown to have taken money meant for an agricultural project in the Free State, and ran it through bank accounts in India belonging to businesses owned by the family.
Two different Gupta-linked companies – Linkbay Trading and Accurate Investments – were then billed for and paid the tune of R30 million for wedding services to cover the cost of the event.
The allegations have been denied by all involved, with the Gupta brothers claiming the over 100,000 emails leaked were fabricated.
The Gutpa leak emails have been proven to be accurate on several occasions, however, and have been accepted as evidence in an ongoing Hawks investigation.
Read: UK banks HSBC and StanChart dragged into Gupta corruption inquiry
Loading ...