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Three New Arrests In VBS Scandal

The Hawks have cracked down on three more suspects related to the VBS bank heist case.

The three suspects, who have not appeared in court yet and therefore cannot be named, are a 57-year-old former municipal manager of the Fetakgomo-Greater Tubatse Municipality, a 39-year-old former chief financial officer and a 41-year-old business owner. They were arrested this morning at their residences around Pretoria.

The former municipal manager allegedly invested R230-million with the now-defunct bank. The full amount has never been paid back to the municipality.

The three will appear in the Pretoria Specialised Commercial Crimes Court on Wednesday where they will be charged with contravening the Municipal Finance Management Act through fraud and money laundering.