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


Recommended

by NEWSROOM AI
Read More
 'Having a senior official call Lindiwe Sisulu a prostitute is undiplomatic'

'Having a senior official call Lindiwe Sisulu a prostitute is undiplomatic'

Mail & Guardian Africa editor Simon Allison says its undiplomatic for a Rwandan official to call Sisulu names.

Former TRC commissioner opens up about how the nation can heal past wounds

Former TRC commissioner opens up about how the nation can heal past wounds

Former TRC Commissioner Professor Pumla Gobodo-Madikizela says a lot needs to be done to level the playing fields.

Social media pokes fun at Trump's 'smocking gun' tweet misspelling

Social media pokes fun at Trump's 'smocking gun' tweet misspelling

Khabazela shares tweets and Facebook posts that have gone viral.

'The corrupt use anti-corruption campaigns to divert attention from themselves'

'The corrupt use anti-corruption campaigns to divert attention from themselves'

Political analyst Steven Friedman says corrupt people use anti-corruption campaigns to neutralise those fighting corruption.

South Africans urged to use water sparingly

South Africans urged to use water sparingly

Water and Sanitation Department's Trevor Balzer says South Africans use 237 litres per day which is above the world average.

Many VBS depositors will be dead by the time they get (some of) their money back

Many VBS depositors will be dead by the time they get (some of) their money back

The Money Show’s Bruce Whitfield interviews Warren Thompson, Financial Journalist at Business Day.

Popular articles
10 advertisements that broke the internet in 2018

10 advertisements that broke the internet in 2018

Some were good, some were great, many were just plain awful. They all went viral.

10 safety tips from Sanparks following latest robbery at Table Mountain camp

10 safety tips from Sanparks following latest robbery at Table Mountain camp

The Slangkop Tented Camp in Kommetjie was hit by thieves the weekend. Here's advice on how to keep safe in the area.

We don't deserve to be called names - Sisulu's spokesperson

We don't deserve to be called names - Sisulu's spokesperson

International Relations Minister Lindiwe Sisulu was called a prostitute by Rwandan foreign minister on Twitter.

Tons of coal exported from SA not Eskom grade says expert

Tons of coal exported from SA not Eskom grade says expert

While South Africans are sitting in the dark million tons of coal is shipped to other countries like China, Japan and India.

Two men get away with R70 000 in robbery at Cape Town's World of Birds

Two men get away with R70 000 in robbery at Cape Town's World of Birds

Walter Mangold, the owner of the popular tourist attraction in Hout Bay, was targeted by two men on the premises on Sunday.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.