LUCAS LEDWABA
AS THE men accused of defrauding the VBS Mutual Bank of over R2billion shook hands with their lawyers after they were each granted bail of R100 000 on Thursday, the daughter of a trade unionist killed for speaking out on the saga sent a moving message.
“My father was brutally killed last year bcos he stood for the people & fought against VBS LOOTERS, tel ur politician frnds that they ar also comin for ’em,they gona rot in jail, my father’s death will never be in vain, RIP cde TT, God is fighting for uLimpopo Provincial Government has noted the recent arrests of those implicated in the much talked about VBS saga by the Hawks earlier yesterday,” Mpho Musetsho said in a tweet on Thursday.
Her father, Tshililo Timson Musetsho, a leader of the SA Municipal Workers Union (SAMWU) in Limpopo was gunned down early last year.
Musetsho and his comrade Ronald Mani who was also shot and killed by unknown gunmen, were leading calls for action to be taken against those who were implicated in the looting of the bank.
Their lawyer, advocate Nndwamato Themeli who was representing the duo in their case against the Vhembe District Municipality where they were employed, survived a suspected assassination attempt when he was shot 23 times in August 2018.
On Thursday magistrate Brian Nemavhidi granted bail of R100 000 each to seven men accused of in the VBS matter.
He further indicated that if they all fail to come up with the money by 4pm, they will be detained.
The men are facing 47 counts including fraud, racketeering, corruption and money laundering.
The accused include alleged kingpin Tshifhiwa Matodzi, chairman of VBS and Vele Investments, VBS treasurer Phophi Mukhodobwane, VBS chief financial officer Philip Truter; non-executive directors of VBS and nominees of the PIC Ernest Nesane, Paul Magula, KPMG auditor Sipho Malaba, CEO and executive director of VBS Andile Ramavhunga and VBS non-executive director and chair of the bank’s audit committee Lieutenant General Avhsahoni Ramikosi.
Truter was not in court allegedly due to being under COVID-19 isolation.
The accused were also asking for the R100 000 bail amount to be reduced claiming poverty but Nemavhidi would not hear of it.
Instead, he cited that not even one of them is poor and that the amount highlights the serious nature of the crimes committed.
Moreover, it would also be proof that they will avail themselves for the trial, he said.
The matter was postponed to 8 October.
The matter is likely to have ramifications for the seven ANC mayors who deposited public funds into the bank prior to its looting. The seven were part of 12 municipalities that invested R2.6-billion of public funds in VBS in violation of legislation governing the use of public funds.
Five of the municipalities were able to recover their funds before the bank went bust.
Although the ANC provincial executive recalled the seven mayors, they continued to serve as councillors in what was seen as a move to hoodwink the public into thinking the governing party was taking tough action.
On Thursday Limpopo Premier Chupu Mathabatha said they still believe the law enforcement agencies should follow up and make more arrests.
Mathabatha’s pronouncement could spell bad news for the axed mayors who are yet to face criminal charges for their part in the saga.
Shortly after the SA Reserve Bank announced released its report into the bank in 2018, Mathabatha’s administration instituted a forensic audit led by the department of treasury “to look into several millions of rand deposits by Municipalities into the VBS bank.
Indeed the report found wide plundering and illegal investments in the VBS bank,” he said. The fired mayors were from Makhado, Vhembe, Fetakgomo Tubatse, Collins Chabane, Makhuduthamaga, Giyani and Elias Motsoaledi municipalities.
After the party fired the seven mayors in December 2018 Mathabatha said the government would “implement all recommendations made in the forensic report to the letter, including the filing of criminal and civil suits against those implicated.”
However, so far, no further action has been taken against them.
This week’s arrests however have rekindled confidence that more people including politicians could face the might of the law.
(Compiled by Inside Politics staff)