A man who allegedly took part in the looting of VBS Mutual Bank has been arrested by the Hawks.
VBS Mutual Bank suspects appear in the Palm Ridge regional court on 47 counts of fraud, racketeering, corruption, theft and money laundering.A man who allegedly took part in the looting of VBS Mutual Bank was arrested by the Hawks in Gauteng on Tuesday.
Hawks spokesperson Col Katlego Mogale said an investigation revealed that R92m of taxpayers’ money was invested in VBS in contravention of the Municipal Finance Management Act.
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