Africa

7 new accused in VBS Mutual Bank theft, fraud & corruption case granted bail

They face charges of corruption, fraud, theft and money laundering.

ANC treasurer in Limpopo Danny Msiza, businessman and former ANC Youth League member Kabelo Matsepe and five others appeared in the Palm Ridge Magistrates Court on 12 March 2021 for their alleged role in the looting of VBS funds. Picture: Boikhutso Ntsoko/Eyewitness News.

JOHANNESBURG – The Palm Ridge Regional Court has granted bail ranging from R50,000 to R100,000 for the seven new accused in the VBS case.

They bring the total number of accused to 15, including Collins Chabane Municipal manager, Tsakani Ngobeni, who was also granted R50,000 bail.

The National Prosecuting Authing (NPA) said that it was clear that those pleading poverty were not genuine but accepted that bail was not punitive.

More than R2 billion was taken from VBS in what has been called ‘The Great Bank Heist’ in Advocate Terry Motau’s investigation.

Robert Madzonga, Ralliom Razwinane, Mulimisi Maposa are accused 9, 12, 15 and have been granted R50,000 bail each.

Kabelo Matsepe, Daniel Msiza, Takunda Mucheke, Tshianeo Madadzhe are accused 10, 11, 13 and 14 and they were granted R100,000 bail each.

They face charges of corruption, fraud, theft and money laundering.

The NPA’s Sipho Ngwema: “Look, we were here in June the last time when all of them were pleading poverty and bail was granted at R100,000. They all paid it, no one slept in a cell but it’s part of the game, they always plead poverty but if you look at the amount of money that they received, they do have access to this but some of them of course were frank and gave the amount.”

They are expected back in court on 26 March.

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