The Gupta's millions have been making headlines for sometime now. it seems that the mystery may have been solved and Ronice Ragavan maybe the road that lead to the millions.
Diverting VAT refund funds claimed by Optimum Coal Mine to a suspicious unrelated company, this is an accusation on the CEO of the Gupta’s Oakbay Resources, Ronice Ragavan.
The unrelated company is a small company called In House Wages. Business rescue practitioners of Optimum Coal Mine, owned by the Guptas, diverted VAT refund claims of R89 million to In House Wages, this is according to Times Select.
Briefly.co.za learnt that fingers have been pointed at Ragavan by the practitioners who claim that they were told that the funds were diverted “on the specific instructions” emanating from Ragavan.
The Gupta’s businesses were placed under business rescue in February. Two days after this happening, 34 year old, Ashbir Maharaj, was appointed as the sole director of In House Wages.
The R89 million that was allegedly diverted to In House Wages, was on the first monies to be diverted in this way, the estimated amount is R200 million.
To stop the funds been transferred elsewhere, the rescue practitioners reported, obtained a court order in April to freeze In House Wages’ bank account.
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