UK lawmaker blames HSBC, Stanchart, Baroda in South Africa corruption


  • World
  • Monday, 18 Nov 2019

FILE PHOTO: Former South African President Jacob Zuma appears in court where he faces charges that include fraud, racketeering and money laundering in Pietermaritzburg, South Africa, October 15, 2019. Michele Spatari /Pool via REUTERS

JOHANNESBURG (Reuters) - Corruption under South Africa's former president Jacob Zuma was enabled by international banks, companies and governments which should now seek to recover the loot they helped to launder, British lawmaker Peter Hain told an inquiry on Monday.

HSBC, Standard Chartered and India's Bank of Baroda as well as their senior directors were "directly culpable" in the looting of South Africa's treasury under Zuma, Hain said in his submission to the Judicial Commission of Inquiry into Allegations of State Capture.

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