Six VBS Mutual Bank fraud suspects granted R5 000 bail each - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The Orkney Magistrate’s Court in the North West has granted bail of R5 000 each to six suspects arrested for fraud, corruption and money laundering to the tune of R2.5-billion.

They were arrested by the Hawks simultaneously in various areas. This follows a VBS Mutual Bank investigation where suspicious transactions were noted in the account of the Dr Kenneth Kaunda District Municipality in Klerksdorp.The suspects Nkhensani Ndengeza, Mabaso Nazo, Rotshidzwa Khazamula, Vuyelwa Matshangaza, Mangaliso Matshangaza and Lazarus Matshangaza, were arrested following investigations conducted between 2017 and 2019.

This after it was found that money was allegedly continuously deposited from the municipal bank account into the accounts of three officials. One of the officials, who has since left the municipality, also routinely made payments into the bank accounts of his wife and brother.

 

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Every where in Africa once you have pinched a lot of money granted small amount of Bail or walk free ,

Why 5tao

Stealing such big amounts and getting so little bail, it’s a mockery of justice to the people of SA

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