HALISTER1: UAE Probes S.Africa Gupta Family Money-Laundering Allegation: BD

UAE Probes S.Africa Gupta Family Money-Laundering Allegation: BD

(Bloomberg) -- Dubai, through its central bank, is looking into allegations of money-laundering by South Africa’s Gupta family using shelf companies in the country, Johannesburg-based Business Day newspaper reports, citing Hamad Buamim, president and CEO of the Dubai Chamber of Commerce and Industry.
  • Issue is being discussed at highest level, he tells newspaper
  • Allegations were contained in leaked emails; Bloomberg couldn’t independently verify the information
  • UAE is member of intergovernmental Financial Action Task Force as it takes steps to tackle money-laundering
  • In 2015, Tax Justice Network ranked Dubai as one of the most secretive jurisdictions worldwide regarding financial flows
  • Gupta family spokesman Gary Naidoo didn’t answer a call to his mobile phone
  • NOTE: Oct. 18, Zuma’s Moves Threaten Split in South Africa Ruling Alliance (1)
  • NOTE: May 8, 2016: Gupta Family Buys $30 Million Mansion in Dubai, City Press Says
To contact the reporter on this story: Ana Monteiro in Johannesburg at amonteiro4@bloomberg.net

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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