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The SIU attacks the headquarters of Alexander Bay Diamond Company in Killarney

The Special Investigating Unit (SIU) raided the Alexander Bay Diamond Company's headquarters in Killarney, Johannesburg. The SIU is apparently investigating how the firm, which specialized in rough diamond marketing, was purchased and recruited to perform services for the state-owned corporation Alexkor. According to SIU spokesman Kaizer Kganyago, the SIU will track the money to discover if Alexander Bay has any ties to the Gupta family.

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This follows charges that the company supplied diamonds to syndicates for 30% less than market value. The SIU claims in a statement that a whistleblower notified them of "suspected severe maladministration" in Alexkor's commercial activities, including diamond marketing, appraisal, sale, and beneficiation. Gavin Craythorn, a founding member of the Equitable Access Campaign and a contractor to state-owned diamond miner business Alexkor, told the State Capture Commission last year that he has been manufacturing mining boats for Alexkor for the past 20 years.

The Commission heard accusations about a joint venture run by Alexkor that illegally granted a contract to market and sell raw diamonds to a business with connections to the Guptas. The appointed organization did not have a diamond license, which was a minimal need, according to the information given to the Commission by Gobodo Forensics. Former Gobodo Forensics executive Albert Torres told the Commission that the business seemed to be a shelf company when it submitted an expression of interest to participate in a tender.


Source: https://www.sabcnews.com/sabcnews/siu-raids-alexander-bay-diamond-companys-offices-in-killarney-johannesburg/

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Alexander Bay Diamond Company Johannesburg Kaizer Kganyago SIU Special Investigating Unit

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