Indian businessmen Ajay Gupta and younger brother Atul Gupta.
JOHANNESBURG - The Sunday Times says the Gupta family appears to have laundered almost half a billion rand through India’s state-owned Bank of Baroda over 10 months.
The paper is in possession of hundreds of thousands of leaked emails.
Some contain transfer requests, showing the family moved money between their companies and the bank.
Amounts range from a few thousand up to R49-million.
The companies include Oakbay, Tegeta and Westdawn Investments.
Last year, South Africa’s four major banks closed the accounts of Gupta-owned companies amid money-laundering fears.
The Bank of Baroda has been under pressure from its headquarters in India to terminate its relationship with the Gupta family.
The Guptas have been advised not to respond until the authenticity of the emails have been established.
