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Bank of Baroda Denies South Africa’s Charges of Keeping “Proceeds of Crime”
March 06, 2018
Denying the charges slapped by the South African prosecutors regarding the Gupta family fraud, public sector Bank of Baroda (BoB) said it wasn’t aware of being in the possession of the “proceeds of crime”.
Earlier, Thato Ntimutse, who is an advocate of South African National Prosecuting Authority’s Asset Forfeiture Unit, said that BoB had held “proceeds of crime” regarding the case involving the Gupta family in a dairy farm project.
The Gupta family case follows the transfer of around 220 million rand into family-linked Estina company, an amount that was intended to create jobs for the country.
