FBI To Probe Guptas' US Links

FBI To Probe Guptas' US Links

It's understood that the cash flows being investigated by the Federal Bureau of Investigation (FBI) relate to multi-million-rand contracts the Guptas allegedly secured for Transnet suppliers.

Chancellor Philip Hammond reportedly said there are concerns the banks may have handled illegal funds linked to the Guptas siphoned via Hong Kong and Dubai.

There has been no comment from Gupta spokesman, Gary Naidoo.

The FBI's probe is said to focus on USA citizens Ashish and Amol Gupta, the nephews of Atul and Ajay Gupta.

Standard Chartered said: "We are not able to comment on the details of client transactions, but can confirm that following an internal investigation accounts were closed by us in 2014".

The rumbling scandal about alleged corruption and bribery in South Africa involving the country's president Jacob Zuma and the powerful Gupta family has embroiled British banks Standard Chartered and HSBC.

Following this, the Chancellor contacted the Financial Conduct Authority (FCA), Serious Fraud Office (SFO) and National Crime Agency stating that the allegations are being taken "extremely seriously".

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Mr Zuma and the Guptas strongly deny wrongdoing, and say they are victims of a "politically motivated witch-hunt".

United Kingdom authorities are investigating allegations that British banks inadvertently acted as conduits for money laundering linked to corruption in South Africa. "It should not be restricted to South Africa", he told reporters.

Britain's parliament is expected to discuss British banks' possible involvement in the Gupta case on Thursday.

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.

The Guptas and their companies have not been charged with any crime in South Africa, but the scandal is one of many that have dogged the Zuma presidency.

The Gupta brothers Ajay, Atul and Rajesh Gupta have interests in computer, mining, media, travel, energy and technology and employ about 10,000 people through their company Sahara Group.

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