Former senior executives of Transnet including Eric Wood have been charged with corruption. Continue to know more.
Eric Wood is the founder of Trillian, a South African financial services firm. He is also a former senior Transnet executive.
According to the recent news, five former senior Transnet employees have been arrested including Siyabonga Gama. The sources have also included the name Wood. Here are some more specific details about him.
Is Trillian Founder Eric Wood Arrested? Where Is He Now?
Eric Wood has been arrested on Friday, May 27, 2022, in East Rand, South Africa. Their arrest took place around 7 am in the morning.
As per the news, he and four others were taken into custody by the NPA’s Investigating Directorate and the Hawks. With ongoing investigation, the executives were linked to corruption.
The news was confirmed by the ID’s spokesperson, Sindisiwe Seboka. He has named Garry Pita, Phetolo Ramosebudi, and Daniel Roy along with Siyabonga Gama and Eric Wood.
According to the State Capture reports, the group was investigated for corruption in connection with the Guptas’ and their allies’ takeover of Transnet. The released report says the group has breached the Public Finance Management Act. They also took cash bribes from the Gupta family between 2010 to 2018. Furthermore, they had misled Transnet’s board about a multibillion locomotive contract.
Eric Wood Jail Sentence And Charges Details
Eric Wood has been taken to the Brackendowns Police Station. However, the jail and sentence details are yet to be publicized.
Wood has been charged with breaking the Public Finance Management Act, fraud, corruption, and money laundering. The accused have been summoned before the Palm Ridge Magistrate’s Court, which is also known as the Specialised Commercial Crimes Court.
Who Is Trillian Founder Eric Wood? His Wikipedia
Eric Wood is a former senior executive at the Transnet. He is the founder of Trillian, who served as the CEO
According to Rocketreach, he has also worked as the Executive Director at the Regiment Capital Advisors LP. Similarly, has served as the Executive Director of Credit Commercial Volatility Trading.
Some other places he worked are Investec Bank, Frankel Kruger Vinderine, and Richardson Reid and Partners.
Talking about his education, the Trillian founder had attended the University of the Witwatersrand. He has done Masters in Entrepreneurship.
In 2015, he completed his Doctor of Philosophy in Entrepreneurial Studies, Philosophy, and Entrepreneurship.
According to sources, Wood has been residing in Sandhurst, South Africa. His net worth exceeds R 300 million in 2022.