The Special Investigations Unit (SIU) raided the offices of the Alexander Bay diamond company in Killarney, Johannesburg.
The SIU says it is investigating how a company specializing in the marketing of rough diamonds was bought and contracted to provide services to state-owned company Alexkor.
SIU spokesperson Kaiser Kganyaga says they will follow the money to see if Alexander Bey has links to the Gupta family.
This follows reports that the company’s diamonds were sold to syndicates at 30% below market value.
The SIU said in a statement: “The SIU received a tip from a whistleblower that there are serious management irregularities in the Alexkor affairs in relation to the marketing, valuation, sale and beneficiation of diamonds.”
SIU investigators, assisted by the Hawks, are currently raiding the offices of Alexandar Bay in Johannesburg for information and evidence to assist in their investigation into the affairs of Alexkor, the state-owned diamond mining company. pic.twitter.com/QTW22uVCYL
— Special Investigations Unit (SIU) (@RSASIU) August 11, 2022
The SIU is currently conducting a search and seizure at Alexandra Bay Diamonds. Read our thread below to find out why https://t.co/hq5PrHB1mj pic.twitter.com/s7ekKeWqdq
— Special Investigations Unit (SIU) (@RSASIU) August 11, 2022
VIDEO: SIU raids offices of diamond company in Killarney alleged to have links to Alexkor:
State capture
Last year, a contractor for the state-owned diamond mining company Alexkor, Gavin Craythorne, who is a founding member of the Equitable Access Campaign, told the State Capture Commission that he had been making mining vessels for Alexkor for the past 20 years.
The commission heard allegations that a joint venture led by Alexkor illegally entered into a contract with a company linked to the Guptas to market and sell rough diamonds.
According to evidence presented to the Commission by Gobodo Forensics, the designated entity did not have a diamond licence, which was the minimum requirement.
Former Gobodo Forensics senior executive Albert Torres told the Commission that the company appeared to be a defunct company when it expressed interest in taking part in the tender.
