Mahumapelo linked to illegal deposits at VBS by NW municipalities

Former North West premier Supra Mahumapelo is the latest politician to be fingered in connection with underhand activities relating to VBS Mutual Bank.

The Mail and Guardian is reporting that Mahumapelo vigourously encouraged municipalities in the province to make illegal deposits of more than R300 million with the bank.

The question is why would the municipalities have deposited the money when there is no political pressure for them to do so?

Thanduxolo Jika, Investigations Editor at the Mail & Guardian

Everybody seems to distance themselves and claim ignorance regarding the deposits, but when you look closer into the report that was done in the North West, you actually see a pattern relating to the deposits.

Thanduxolo Jika, Investigations Editor at the Mail & Guardian

VBS is on the verge of being liquidated following a looting scandal which saw almost R2-billion pilfered through fraud and corruption.

According to the Mail and Guardian 'the biggest losers so far have been municipalities, which are unlikely to recover their money'.

Mahumapelo has denied having any influence in the making of the payments, however, Jika says according to sources it was Mahumapelo who had invited VBS officials to a conference in North West.

Listen to the full interview below:


This article first appeared on 702 : Mahumapelo linked to illegal deposits at VBS by NW municipalities


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