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Viral Feed South Africa > Blog > Crime > Another suspect arrested linked to VBS
Crime

Another suspect arrested linked to VBS

Nancy
Last updated: 2020/06/25 at 1:25 PM
Nancy
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1 Min Read
GAUTENG – A 64-year-old suspect is set to appear in the Pretoria Specialised Commercial Crime Court today facing charges of contravention of the Municipality Finance Management Act 56 of 2003 in the ongoing investigation linked to the VBS Mutual Bank.
The suspect who was arrested this morning, was employed at Merafong Local Municipality as Manager: Budget and Treasury until his retirement. The investigations revealed that over R50 million was invested with VBS Mutual Bank at the time when he was acting as the Chief Financial Officer (CFO) at the Municipality.

Nancy June 25, 2020 June 25, 2020
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