The Directorate for Priority Crime Investigation (Hawks) are investigating allegations of fraud and corruption amounting to millions of rands against some people linked to the Venda Mutual Bank (VBS).
VBS has been placed under curatorship following allegations that business and individual bank transactions amounting to hundreds of millions of rands were being done irregularly.
It’s alleged that the bank has irregularly issued loans to some prominent people and some executives of Vele Investment.
Vele Investment is the majority shareholder in the mutual bank.
Hawks spokesperson Hangwani Mulaudzi says: “We have already received five dockets which the Hawks serious corruption investigation unit will be probing.”
He says there will be a series of meetings with various stakeholders with the purpose of having a case plan moving forward.
“We are only responsible for the criminal investigation that will be embarking on. All other aspects related with the bank remain with the curator and with that we want to request to be given space,” says Mulaudzi.