VBS Saga: Former Collins Chabane Municipality CFO realeased on bail
Eddie Makamu and former municipal manager, Charlotte Ngobeni's trial will start in the Palmridge Specialised Court on August 1.
LIMPOPO – The latest arrest relating to irregular investments in the now defunct VBS Mutual Bank, is that of the former chief financial officer of the Collins Chabane Municipality, Eddie Makamu.
He appeared before the Palmridge Specialised Court on May 6 after he was arrested by members of the Directorate for Priority Crime Investigation (Hawks) on May 5.
Read more: VBS saga: Former Collins Chabane CFO arrested for alleged involvement
He was released on R20 000 bail and his case was postponed to May 9, where he appeared before the court alongside the former municipal manager, Charlotte Ngobeni, who was arrested last March.
According to Brigadier Thandi Mbambo, Makamu appeared before the court for reasons relating to contravening the Municipal Finance Management Act. “It is alleged that on October 23, 2017 the Collins Chabane Municipality invested R120m with VBS, which is in breach of the Municipal Finance Management Act,” she commented.
“The former municipal manager, Charlotte Ngobeni, was arrested by the Hawks in March 2021 and was released on R50 000 bail, and charges relate to the same issue,” explained Mbambo.
Ngobeni and Makamu’s trial will start in the Palmridge Specialised Court on August 1. Bail for both was extended.
Mbambo said the Hawks investigation with regard to the VBS saga is at an advanced stage and that 27 suspects have been arrested thus far.
Meanwhile, the former Thumela mayor, Avhashoni Tshifhango, and suspended municipal manager Hlengani Maluleke are due to appear before the Polokwane Commercial Specialised Court on May 24 for their apparent involvement in the R30 million investment that the municipality made with VBS Mutual Bank.
The money was recovered before the bank collapsed.
They were arrested in February and were granted R30 000 bail each in the Thohoyandou Magistrate’s Court, where the matter was then moved to the Polokwane Commercial Specialised Court.
Tshifhango was charged with corruption and maladministration, while Maluleke was charged with contravening the Municipal Finance Management Act.
