Judge Philip Loubser has ruled that an asset seizure order against the Indian billionaires and their South African associates should be lifted.

This is a blow for the prosecution service although they insist they have evidence to win the trial set down for August on charges  of money laundering, fraud and contravention of the companies act.

The serious crimes investigation unit known as the Hawks and the Assets Forfeiture Unit last month descended on the Gupta family to seize assets including 42 properties, several aircraft and luxury cars.

It’s part of their investigation into the misappropriation of funds for a project designed to empower peasant dairy farmers.

The State alleges the Guptas used this fund to launder money from other criminal operations in South Africa.

Judge Philip Loubser said  in the Free State High Court yesterday he was  not convinced that there are reasonable grounds before him to confirm a conviction against the Guptas.

He rejected the argument by counsel for the prosecution that none of the money handed to the Guptas  from the dairy project could possibly  be clean.

The judge noted, however that agreement handing  the diary project to the Guptas appeared to have flouted the national Treasury’s supply chain management and procurement processes.

However he said he  was obliged to rule on facts before the court rather than suspicion.

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