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FBI has opened an investigation into the Gupta family

It has emerged that the Federal Bureau of Investigation (FBI) has opened an investigation into the Gupta family related to cash flows between South Africa, Dubai and America.

The Financial Times also reports that British financial enforcement agencies are looking into links between HSBC and Standard and Chartered - and the South African-based Guptas.

The FBI's probe will focus on Ashish and Amol Gupta, who are US citizens. They are the nephews of Atul and Ajay Gupta.

It’s being reported that the FBI is investigating cash flows between South African Gupta-owned companies, Dubai and a company owned by Ashish and Amol in the United States.

Locally, the Hawks have told Parliament that the controversial family’s dealings form part of an investigation into state capture.

While there have been numerous leaks of compelling evidence against the family, there has been no outright attempt to prosecute them.

The Financial Times reports that transactions through HSBC and Standard and Chartered are being reviewed on suspicion that hundreds of millions of rand were laundered through Gupta-linked accounts.

-EWN

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