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The multi-million dollar sell off of the remnants of one of the biggest business stories in South African history got underway in the last hour. Under the hammer went the remains of the liquidated TNA newspapers once owned by the Gupta brothers who are alleged to have used undue influence over the state to win contracts that made them billions. On sale will be everything from chairs and tables to fridges. Auctioneer Clive Lazarus spoke to CNBC Africa for more.

Gupta media assets auctioned off

JOHANNESBURG (Reuters) &#8211; South Africa has signed an extradition treaty with the United Arab Emirates, the justice minister said on Thursday, raising the prospect of the Gupta brothers, friends of former president Jacob Zuma, returning to face corruption charges.
The Indian-born brothers &#8211; Ajay, Atul and Rajesh &#8211; have been accused of using their ties with Zuma to siphon off billions of rand in state funds and of inappropriately influencing cabinet appointments.
The Guptas are believed to be in Dubai where they own property and businesses and police have issued an arrest warrant for Ajay Gupta over a corruption case.
The Guptas and Zuma, who have repeatedly denied wrongdoing, could not be reached for comment.
Justice Minister Michael Masutha told Reuters that treaties on extradition and legal assistance had been signed with his counterpart Sultan Saeed Al Badi on Tuesday in Abu Dhabi.
“I will not at this stage comment on individual matters,” Masutha said when asked about the Guptas.
A long-awaited inquiry into allegations of inappropriately influencing government decisions, known locally as “state capture”, opened last month with witnesses testifying that the Gupta brothers tried to bribe or threaten them.
The Guptas left South Africa earlier this year around the time Zuma resigned under pressure from his own party.
Activists, opposition politicians and members of the ruling African National Congress have been calling for an extradition treaty to be agreed with the UAE so the Gupta brothers can be ordered to return to South Africa.
“This means the infamous Guptas are fast running out of places to hide as they can now face extradition to finally answer for state capture,” said Natasha Mazzone, Democratic Alliance shadow minister on state companies.
Reporting by Joe Brock and Ed Stoddard; Editing by Richard Balmforth

South Africa signs extradition treaty with UAE that could target Gupta brothers, what you need to know…

South Africa’s High Court ruled on Monday that a luxury jet leased by the Gupta family, friends of ousted president Jacob Zuma, should be grounded after the Canadian credit agency that financed the lease canceled its loan to the Guptas.
<div id="attachment_264503" style="width: 1375px" class="wp-caption aligncenter"><img aria-describedby="caption-attachment-264503" decoding="async" loading="lazy" class="wp-image-264503 size-full" src="http://cnbc.africa/wp-content/uploads/2017/08/law-and-justice-concept_public-domain-pictures.jpg" alt="" width="1365" height="1024" />Photo: Public Domain Pictures</div>
The three Gupta brothers are at the center of graft and influence-peddling allegations surrounding Zuma, who was forced from office last month by the ruling African National Congress.
Zuma and the Guptas, whose relationship will be the focus of a corruption inquiry led by a top South African judge, have denied any wrongdoing.
Canadian export credit agency EDC, which supports Canadian firms doing business abroad, lent a Gupta company $41 million in 2015 to lease the Bombardier jet.
But it canceled that loan agreement last year after the Guptas missed loan repayments. EDC applied to a South African court to have the jet grounded.
A registrar at the High Court said it had ruled that the Bombardier jet should be stored at Johannesburg’s Lanseria airport pending the outcome of a legal dispute in Britain, where the Guptas are disputing EDC’s cancellation of the loan agreement.
The Guptas, officials from their companies and their family representatives could not be reached for comment.
The exact whereabouts of the Gupta brothers and the Bombardier jet they had leased are not publicly known after the tracking device on the jet was switched off.
Ajay Gupta has been declared a “fugitive from justice” and is known to have left South Africa for Dubai in February.
Phil Taylor, spokesman for the Canadian firm, said it was “pleased with the favorable ruling and expects an orderly handover of the aircraft pursuant to the court order.”
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Reporting by Alexander Winning; Editing by James Macharia and Richard Balmforth
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South African court grounds Gupta jet in case brought by Canadian credit agency

One of South Africa&#8217;s Gupta brothers said leaked emails suggesting his family used links to President Jacob Zuma to win contracts and influence decisions were fake, a rare intervention in a scandal that has rocked the government.
Atul Gupta &#8211; whose family business empire spans media, mining and technology &#8211; told the BBC he had no idea where more than 100,000 documents and emails released in the media since June had come from.
&#8220;There&#8217;s no authenticity of Gupta leaks at all,&#8221; he said, without suggesting who might have forged them or addressing specific allegations in the paperwork.
Senior members of the ruling African National Congress party have accused the three Gupta brothers of using their relationship with Zuma to wield influence and win business.
Media reports based on the emails have drawn several international firms into a scandal that has prompted politicians to call for a judicial enquiry and Zuma&#8217;s resignation.
Zuma and the Guptas have denied wrongdoing. A family spokesman last month said the allegations were false and part of a &#8220;blatantly political campaign&#8221;.
<h3 data-reactid="44">Pr Campaign</h3>
Atul Gupta said his family also had no role in a publicity campaign by London-based public relations firm Bell Pottinger that cast enemies of Zuma as agents of &#8220;white monopoly capital&#8221;.
The slogan, aired frequently on a Gupta-owned television station, quickly gained traction in a country where the white minority still wields disproportionate economic clout two decades after the end of apartheid.
Deputy President Cyril Ramaphosa and opposition members have said the campaign inflamed racial tensions.
&#8220;I don&#8217;t know what this narrative comes from. White monopoly capital, if you go research any revolutionary speech in this country, always existed. I don&#8217;t know where any of these terms come from, believe me,&#8221; he told BBC Radio 4&#8217;s World at One show on Tuesday.
The leaked emails suggested Bell Pottinger worked with Zuma&#8217;s son, Duduzane, who was then a director at a subsidiary of the Gupta-controlled Oakbay company, to create a &#8220;narrative that grabs the attention of the grassroots&#8221;.
Bell Pottinger ended its work with Oakbay in April and last month apologised for the campaign and fired a partner in charge of it.
The firm is also under investigation by Britain&#8217;s Public Relations and Communications Association (PRCA) after a complaint from South Africa&#8217;s main opposition party, the Democratic Alliance (DA).
&#8220;It wasn&#8217;t an intention to play with race, it was an intention to highlight a very real issue,&#8221; Bell Pottinger&#8217;s Chief Executive James Henderson told the BBC.
&#8220;Knowing what I know now, clearly in hindsight, they (the team) got involved in a situation which was much more political than clearly had been anticipated by them at the time.&#8221;
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Reporting by Nqobile Dludla; Editing by James Macharia and Andrew Heavens
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Gupta brothers

Gupta media assets auctioned off

South Africa signs extradition treaty with UAE that could target Gupta brothers, what you need to know…

South African court grounds Gupta jet in case brought by Canadian credit agency

Gupta brother says South Africa influence peddling emails are fake

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Gupta brothers

Gupta media assets auctioned off

South Africa signs extradition treaty with UAE that could target Gupta brothers, what you need to know…

South African court grounds Gupta jet in case brought by Canadian credit agency

Gupta brother says South Africa influence peddling emails are fake

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