Gupta
WARRANT OF ARREST: Ronica Ragavan, co-director of Islandsite Investments

A warrant for the arrest of Ronica Ragavan, a co-director of Islandsite Investments Pty Ltd a company owned by the Gupta family, has been issued – but stayed.

Ragavan failed to appear on Tuesday before the Bloemfontein Regional Court as a representative of the company citing medical reasons.

The case relates to procurement fraud involving R24.9 million by the Free State Department of Agriculture (FSDoA) to Nulane Investment 204 (PTY) LTD, a company owned and controlled by Iqbal Sharma.

Sharma is a Transnet Board member.

The money was purportedly paid to Nulane to conduct a feasibility study for the Free State Province’s flagship Mohoma Mobung project.

From there the funds were allegedly diverted to Islandsite Investments 180 (Pty) Ltd (Islandsite).

The accused in the case include Sharma, Nulane Investment employee Dinesh Patel, former Free State head of Department for Rural Development (FSDoRD),

Peter Thabethe; former head of FSDoA, Limakatso Moorosi; and former FSDoA Chief Financial Officer, Seipati Dhlamini face charges of fraud and money laundering in the same matter.

The former government officials are also charged with contravention of the Public Finance Management Act.

Islandsite Investments Pty Ltd has now been added to the R24.9 million Nulane Investment feasibility study matter as accused number 7.

The matter was postponed to 8 October 2021.

All the accused – companies Islandsite and Nulane – as well as six others will appear together on that date for the first time.

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