Trio in court for R153 million VBS corruption matter

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Trio in court for R153 million VBS corruption matter
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Give yourself a mid-year boost and check-in to make the most…Is TypeWhizz Real Or Another Online Scam? Let’s InvestigateThe former Municipal Manger and acting Chief Financial Officer of the Greater Giyani Local Municipality, together with a businessman, have appeared in court in connection with a VBS corruption matter in which the municipality suffered a loss of at least R153 million.

The trio face charges of contravening the Municipal Finance Management Act , corruption and money laundering. “It is alleged that the first investment of R100 million matured and yielded an interest amounting to over R4 million. Later, over R48 million was also invested. The investment and the interest were then not paid back to the municipality.

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