Three suspects, aged 33, 42 and 64, were arrested during an early morning raid in Limpopo by the Serious Corruption Investigation of the Hawks.
The 64-year-old suspect, who was previously the Chief Financial Officer and Acting Municipal Manager for the Greater Giyani Local Municipality, was arrested in Lulekani.
He was arrested on charges of contravention of the Municipal Finance Management Act (MFMA), corruption and money laundering.
The 42-year-old suspect was arrested in Giyani. She was a Budget Manager and Acting Chief Financial Officer, and currently the Chief Financial Officer, of Giyani. She is facing charges of flouting the MFMA.
The third suspect, aged 33, is a businessman. He was arrested in Muhuya village, Thohoyandou, on allegations of money laundering.
During 2017, two of the suspects invested a total of R148 656 282.00 into VBS Mutual Bank. Large amounts were paid to VBS affiliated companies as so-called "commissions".
Some of this money was laundered through several bank accounts, including that of the third suspect.
From the suspect’s company, a total amount of R87 600.00 was paid to the first suspect over a period of time as gratification, which was a great loss to the Giyani Municipality.
The trio will make their first appearance on 6 March 2024 in the Giyani Magistrates’ Court for formal bail application. – SAnews.gov.za
