Three more arrested on VBS Bank Scandal

News South Africa

Tebogo Msimanga |

Three suspects, a 57 yeard old former Municipal Manager of Fetakgomo-Greater Tubatse Municipality, former Chief Financial Officer (39) and a 41-year-old owner of a private business were arrested on Tuesday morning at their residences around Pretoria.

The investigation revealed that Fetakgomo-Greater Tubatse Local Municipality invested an amount of R230 million which was paid in five trenches from 15 November 2016 to 19 February 2018.

Hawks spokesperson Nomthandazo Mbambo said the whole amount invested was never paid back to the municipality.

The three will appear in Pretoria Specialised Commercial Crimes Court on Wednesday the 17 November 2021 on charges of corruption and money laundering.

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