FORMER COLLINS CHABANE CFO ARRESTED IN RELATION TO VBS SAGA1 min read
The former Chief Financial Officer at Collins Chabane Municipality has been arrested on Thursday, 5 May 2022 for his alleged involvement in unlawfully and irregularly investing municipal money with VBS Mutual Bank.
He is expected to make his first appearance in the Palm Ridge Specialized Commercial Crimes Court today for contravening the Municipal Finance Management Act.
It is alleged that on 23 October 2017, Collins Chabane Municipality invested R120 million with VBS in contrary with the Municipal Finance Management Act. The erstwhile Municipal Manager, Charlotte Ngobeni has since been arrested on the same matter by the Hawks’ Serious Corruption Task Team members in March 2021 and released on R50 000-00 bail.
Ngobeni will appear again on the 9th of May 2022.