In an affidavit submitted to the High Court in Pretoria on Friday seeking declaratory relief for South Africa’s Finance Minister Pravin Gordhan, he has revealed the potential reasons for why the big-four banks closed the Guptas’ bank accounts.

The reasons appear to be related to R6.8 billion in “suspicious and unusual transactions” by Gupta owned companies. For more read the affidavit.

The release of the affidavit comes in a week when Gordhan was issued with a summons after being charged with fraud, which he described as frivolous.

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