Rustenburg - 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.
“It is alleged that on October 23, 2017, Collins Chabane Municipality invested R120 million with VBS, contrary to the Municipal Finance Management Act.
“The erstwhile municipal manager Charlotte Ngobeni has since been arrested on the same matter by the Hawks' Serious Corruption Task Team members, in March 2021, and released on R50 000 bail. Ngobeni will appear again on May 9, 2022,” Hawks spokesperson Brigadier Thandi Mbambo said.
She 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.
“The Hawks’ Investigations with regard to VBS cases are at an advanced stage and a total of 27 suspects have been arrested so far. More arrests are imminent,” she said.
In the North West province, the former municipal manager of Mahikeng Municipality Thabo Mokoena, was arrested on charges related to the VBS Mutual Bank investment.
The municipality allegedly invested over R92 million in the VBS Mutual Bank, from August 2017 until December 2017.
Only R7 million was paid back to the Mahikeng Local Municipality.
Mokoena was granted R50 000 bail.
IOL