Two directors, Gupta-linked companies convicted of R107.5m fraud, money laundering
The court postponed the matter to 01 December 2026 for sentencing proceedings.
Two directors and three mining companies have been convicted of fraud and money laundering, involving R107.5 million linked to two mine rehabilitation trusts. The Gauteng High Court in Johannesburg found Ronica Ragavan and Pushpaveni Ugeshni Govender, along with Optimum Coal Mine, Koornfontein Mines, and Tegeta Exploration and Resources guilty of the offences.
The court ruled that the accused unlawfully used the funds intended for rehabilitation work, transferring them to mining contractors and third parties. The case highlights violations of regulations requiring mining companies to set aside money for the rehabilitation of the land they mine, as stipulated by the National Environmental Management Act 107 of 1998.
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