News Formal

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

  • 📰 mailandguardian
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 92%

United States News News

United States United States Latest News,United States United States Headlines

🔒 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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The heart of Maboneng beats on | Business | M&GParts of Maboneng, one of Johannesburg’s trendiest inner-city districts, will be up for auction this Monday, when as many as 18 of its buildings will be on the block.
Source: mailandguardian - 🏆 2. / 92 Read more »