Merafong municipal official in court for VBS investment
A former chief financial officer at the Merafong Local Municipality Mattheys Gerhardus Wienekus has appeared in the Pretoria Specialised Commercial Crime Court in connection with the looting of VBS Mutual Bank.
The 64-year-old Wienekus appeared in court on Thursday.
It is alleged that Wienekus invested R50 million with the now defunct bank in contravention of the Municipal Finance Management Act.
Wienekus allegedly made payment on instruction of the Acting Municipal Manager Romeo Mohaudi.
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According to the charge sheet, Wienekus informed Mohaudi that the investment with VBS would be unlawful.
The Merafong Municipality now stands to lose all or most of its investment with VBS after the bank was liquidated.
The case against Wienekus was postponed to July for further investigations.