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Daily IOL Radio News Bulletin - May 6

Published May 6, 2022

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Cape Town - As you kick start your day, Nokuthula Khwela brings you the country’s biggest stories.

In our top stories:

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Two loan sharks have been convicted and sentenced for contravention of the National Credit Act.

Baby Miko, 42, and Sibusiso Nyundu, 35, were found guilty and sentenced in the Masoyi Magistrate’s Court on Wednesday.

The two were arrested in November 2021 during a search and seizure operation at Masoyi executed by the Hawks’ Serious Commercial Crime Investigation team based in Nelspruit together with National Credit Regulators.

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Over 500 bank cards, R36 730 in cash, Sassa cards and identity documents of clients were found in their possession.

Read here for more on this story.

Former chief financial officer (CFO) at Collins Chabane Municipality, in Limpopo, was arrested on Thursday for his alleged involvement in unlawfully and irregularly investing municipal money with VBS Mutual Bank, the Hawks said.

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On October 23 , 2017, Collins Chabane Municipality invested R120 million with VBS.

The Hawks said, the former CFO was expected to make his first appearance in the Palm Ridge Specialised Commercial Crimes Court on Friday, for contravening the Municipal Finance Management Act.

For more on this read here.

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