Two appeared for unlawful VBS investments

PRETORIA – A 59-year-old, Minah Maredi former Municipal Manager of Elias Motsoaledi Municipality and former mayor of Elias Motsoaledi who is the now current Mayor of the Sekhukhune District Municipality, Julia Mathebe (51) appeared in the Pretoria Specialised Commercial Crimes Court, this afternoon subsequent to their arrest this morning by the Serious Corruption Investigation.
The arrest was as a result of an ongoing investigation into the VBS Mutual Bank investments that were conducted by municipalities in contravention of the Municipal Finance Management Act. The municipal manager is said to have been instrumental in investing R190 million municipal funds into the VBS Mutual Bank wherein the mayor received over R300 000 in gratification which included cash, accommodation and flight tickets. These were channeled through a company belonging to her children.
Their case was postponed to the 02 March 2023 after they were granted bail of R30 000-00 each.

Source: South African Police Service