South Africa's Gupta-owned Oakbay says Gordhan affidavit flawed

October 18, 2016 11:38 AM

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JOHANNESBURG South Africa's Oakbay Investments said on Tuesday that a court application by Finance Minister Pravin Gordhan implicating the firm and its owners, who have close ties to President Jacob Zuma, in suspicious transactions was flawed.

The statement comes days after Gordhan revealed in a court affidavit that 6.8 billion rand ($491 million) in payments made by Ajay, Atul and Rajesh Gupta and companies they control and other individuals with the same surname have been reported to authorities as suspicious since 2012.

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