- Centaur Ventures is attempting to claim funds from Optimum Coal Mine
- Centaur applied to a court to be recognised as Optimum's main creditor
- However, the company has been accused of fraud and reckless business practices
A Gupta-owned company has gone to court in an attempt to remove R1 billion from the country.
The company, Centaur Ventures, is fighting for a massive claim from the Optimum Coal Mine business rescue.
If successful, the company would prevent Eskom, which also has a claim out, from getting the funds.
This comes after the mine has failed to pay its workers for several months. It reportedly owes its employees more then R250 million in total.
Centaur Ventures and Optimum Coal are alleged to have collaborated at the instruction of the Guptas in order to loot from the mining company.
However, in the court documents it filed, Centaur Ventures claims to be an indepent contractor.
Centaur's application is for it to be recognized as Optimum Coal's main creditor, allowing it to receive the majority of the failing company's payout. Additionally, Centaur says it is not responsible for Optimum Coal's economic woes.
However, accusations have surfaced that Optimum engaged in reckless deals with other Gupta-owned companies, as well as committed extensive fraud, according to City Press.
Allegedly, Centaur Ventures bought coal even though it knew it would not receive the coal.
Additionally, huge portions of payments made by Centaur to Optimum were syphoned off to Tegeta, another Gupta-owned company, as well as Oakbay, which is partially controlled by Duduzane Zuma.
Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!