Two former senior managers at Fetakgomo Tubatse Local Municipality (FTLM) appeared before the Pretoria Specialised Commercial Crimes Court for their involvement in the VBS saga.
Nkhono Johannes Mohlala (57), former Municipal Manager (MM) of FTLM, Tumelo Given Ratau (39) former Chief Financial Officer (CFO) at the municipality, and Keaobaka Remigious Kgatiteroe (41) owner of Kelotlhoko Property Services appeared at the court on Wednesday.
They were granted bail of R50 000 each and will return to court on 1 March 2022.
“The suspects were arrested by the Hawks on Tuesday morning at their residences around Pretoria.
“The allegations in this matter were reported and opened for the contravention of the Municipal Finance Management Act, 2003 (Act No. 56 of 2003) for investing municipal funds with VBS Mutual Bank,” said Hawks spokesperson Brigadier Nomthandazo Mbambo
She said the investigation revealed that Fetakgomo Tubatse invested an amount of R230 million which was paid in five trenches from 15 November 2016 to 19 February 2018.
The whole amount invested was never paid back to the municipality.
“The trio appeared on charges of Contravention of section 173 of the Municipal Finance Management Act, 2003 (Act No. 56 of 2003); corruption; and money laundering,” she concluded.