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[File photo] Containers at one of SA’s ports.
Four former Transnet executives have been granted bail of R50 000 each by the Palm Ridge Magistrates Court, in Ekurhuleni, Gauteng.
The four accused are former Transnet CEOs Brian Molefe and Siyabonga Gama, former CFO Anoj Singh, and former engineer, Thamsanqa Jiyane.
They handed themselves over to the police on Monday morning.
The executives are charged in connection with an irregular payment of R93,4 million to Trillian Asset Management for organising a R30 billion loan to help buy locomotives in 2012.
It’s alleged that a double payment as Transnet had already paid another transaction to advisory firm, Regiments.
Trillian allegedly did nothing to earn the fee, but invoiced Transnet.
