WRDM tables forensic report into its VBS investments
It is only upon receipt of the advice of the legal advisers that the municipality will be in a position to determine the manner in which the matter may be taken forward.
On Monday, 18 March, the Speaker of Council at the WRDM received the Forensic Investigation Report on the municipality’s investments in the Venda Mutual Bank (VBS).
The forensic investigation was carried out by Deloitte South Africa after having been appointed by the Gauteng Provincial Treasury. A special council meeting was convened and held on Tuesday, 19 March 2019.
In this meeting, the service provider presented the report to the Council and a question and answer session was held.
One of the recommendations set out unequivocally by Deloitte South Africa was that the municipality should consult with its legal advisers prior to and on the manner of implementing any of the recommendations set out in the report. It is on the basis of this that the council on Thursday, 28 March 2019, resolved to refer the report to legal advisers sourced from the panel of attorneys of the municipality.
It is only upon receipt of the advice of the legal advisers that the municipality will be in a position to determine the manner in which the matter may be taken forward.
