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JUST IN: Gupta associate Iqbal Sharma granted bail of R500,000



Gupta associate Iqbal Sharma the former Transnet bord member has been granted bail of R500,000.

On Wednesday the 14th of July 2021, the bail was granted to him through a virtually conducted judgement by Judge Joseph Mhlambi in the High Court in Bloemfontein.

Sharma has since been facing fraud charges alongside 16 others for defrauding the Free State Agricultural Department of R25 million in 2015.

He was previously denied bail as he was perceived to be a flight risk, but he appealed.

Mhlambi attached R600 000 of Sharma’s retirement annuity to the bail.

He has also been ordered to disclose his financial assets and that of his wife and his offshore assets within 14 days of the judgment.

Mhlambi put strict conditions to Sharma’s release.

He is not allowed to apply for travel documents, approach borders, leave Gauteng, nor his home and he is expected to report to the Sandton police station three times a week.

Sharma was also ordered not to contact any witnesses.

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