Durban businessman Tariq Downes has maintained his innocence following his appearance in the Kempton Park Magistrate’s Court, insisting there is no case against him.
Downes appeared in court on Monday alongside two senior police officials, Major-Generals Feroz Khan and Ebrahim Kadwa.
The three were arrested over the weekend following an investigation by the Gauteng Counter Intelligence Operations unit, known as GCI-OPS, which alleges they were linked to the illegal dealing and unlawful possession of precious metals.
They face multiple charges, including unlawful dealing in precious metals, corruption, defeating the ends of justice, and contravention of legislation regulating the sector in South Africa.
All three accused were granted R20,000 bail each, with strict conditions prohibiting them from interfering with investigations or contacting witnesses.
They have also been ordered to surrender their passports to the investigating officer by 12 May and to notify authorities at least 72 hours before any intended travel.
The matter has been postponed to 14 July for further investigation.
Downes has denied any wrongdoing, saying he will clear his name as the legal process continues.