There has been more arrests in Limpopo with regard to the VBS Mutual bank scandal including the Sekhukhune Mayor.
A 59-year-old former Municipal Manager and former mayor of Elias Motsoaledi Municiplaity are appearing in the Pretoria Specialised Commercial Crimes Court on Wednesday.
This is subsequent to their arrest this morning in Groblersdal, Limpopo.
The former mayor of Elias Motsoaledi is the current Mayor of the Sekhukhune District Municipality.
MAYOR ARRESTED FOR VBS
The arrest was as a result of an ongoing investigation into the VBS Mutual Bank investments that were conducted by municipalities. It is in contravention of the Municipal Finance Management Act.
The municipal manager is said to have been instrumental in investing R190 million municipal funds into the VBS Mutual Bank.
Wherein the mayor received over R300 000 in gratification which included cash, accommodation and flight tickets.
These were channelled through a company belonging to her children. The two suspects are appearing in the Pretoria Specialised Commercial Crimes Court this afternoon on charges of corruption, money laundering and contravention of the Municipal Finance Management Act as well as the Banks Act.
More to follow….
