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.
More Stories
CoCT Plans To Shield Capetonians From Power Cuts Within 3 Years – Hill-Lewis
Modernise Basic Education System – Ramaphosa
New Johannesburg Mayor To Be Elected On Friday
Unions Reveal Culture Of Fear At Eskom
Ramaphosa Set To Provide Recovery Plan For Basic Education Sector
Not Implementing Eskom Tariff Hike Could Be Disastrous – Experts
Tshwane Owes Eskom R1.4bn
Eskom Announces Stage 5 Blackouts
Coalition Files Court Papers To Set Aside Nersa’s Eskom Tariff Approval
Public Protector Completes Onvestigation On Phala Phala
Nelson Mandela Bay Dams Dries Up
Energy Crisis Committee Releases Update On Action Plan