Ex-Limpopo Mayor Who Allegedly Received 638K Jeep Arrested as Hawks Swoop in on Two Suspects in VBS Looting
Two suspects arrested on allegations of corruption and maladministration in connection with the looting of the Venda Mutual Bank (VBS) are expected to appear the Thohoyandou Magistrates’ court on Tuesday.
The suspects were handcuffed on Monday.
In statement, the Hawks said the arrest of the suspects comes after an intensive, prosecution aimed investigation by the Hawks’ Serious Corruption Investigation into inappropriate administering of state funds into VBS by the Thulamela Local Municipality.
The investigation revealed that the municipality invested an amount of R30 million into VBS.
The Hawks Katlego Mogale said the suspects are aged 49 and 52.
“The suspects, a former mayor who accepted a Jeep Cherokee valued at over R638 000-00 through a well-known VBS money laundering third party. The Municipal manager who invested the R30 million of the municipality money into VBS in contravention of the Municipal Finance Act.”
Mogale said at least 25 people have already been arrested and are in the criminal justice system facing more than 100 charges.
Mogale said more suspects are expected to be arrested during the course of the investigation as about 20 municipalities in Limpopo, North West and Gauteng, lost nearly R1.6 billion, after illegally investing with the bank.
