Hawks moving swiftly in VBS investigations

The Hawks stand by a previous statement by national Spokesperson Hangwani Mulaudzi that investigations into the VBS Mutual Bank looting are moving swiftly with some are already in an advanced stage.
Polokwane Observer reported last week that during a recent meeting with officials from the Office of the Auditor General of South Africa Portfolio Committee on Cooperative Governance and Traditional Affairs Chairperson Faith Muthambi criticised the lack of clear and substantial consequence management in local government in Limpopo despite continuous transgressions.
The committee was of the view that without concomitant action, municipalities would continue to struggle to deliver quality services.
It was learnt that municipalities that invested public funds with VBS Mutual Bank were technically insolvent and that this impacted on their financial viability as well as the ability of municipalities to service their creditors.
These are Vhembe District Municipality, Fetakgomo-Tubatse Municipality, Collins Chabane Local Municipality, Ephraim Mogale Local Municipality, Greater Giyani Municipality, Elias Motsoaledi Local Municipality, Mopani District Municipality and Lepelle-Nkumpi Local Municipality.
Terry Motau, head investigator into the VBS Mutual Bank saga released his report on the almost R2 billion that was looted from the bank in October last year.

Story: RC Myburgh
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