U.S. court grants IDC access to Gupta financial records from 17 global banks

Remember that saying “The wheels of justice turn slowly but they grind exceedingly fine”? It’s finally come true for the Guptas. Proof that Gupta companies laundered government money from the Estina dairy project, plus Transnet locomotive deal kickbacks, may be locked deep inside a number of New York banks. A landmark decision has given the vault keys to the IDC (Industrial Development Corporation). In August 2020, a Manhattan judge granted a secret court order, giving the IDC crucial access to Gupta financial records at 17 New York banks. The order enabled the IDC’s New York lawyers to subpoena the 17 banks which the Guptas, their associates and connected companies used as part of their worldwide money-moving machine to do business in dollars. These records could be a game-changer for South African authorities, who’ve been trying to prove money laundering on an international scale. Get the full story at https://www.dailymaverick.co.za/article/2020-09-20-new-york-court-grants-idc-access-to-gupta-financial-records-from-17-international-banks/

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