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Business partner accuses Razwinane of taking company money | News | National | M&G

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🔒 The Mail & Guardian understands Elias Diale funded GWS, at a time when Ralliom Razwinane was on the verge of filing for bankruptcy, in return for a stake in the company.

Ralliom Razwinane was found to have been the adviser in a deal that saw the controversy-stricken Community Schemes Ombudsman Services deposit its R80-million investment into VBS Bank’s current account at FNB.

Now his business partner in GWS, Elias Diale, has taken him to court alleging that he transferred their company’s money from the business account into his personal account. Besides hundreds of millions deposited by private citizens and burial societies from rural Limpopo province, the bulk of VBS’s deposits came from local municipalities in Gauteng, North West and Limpopo, as well as several state-owned entities, such as the CSOS.

 

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