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North West Premier Job Mokgoro says four dismissed mayors of municipalities that invested with VBS Bank will face criminal charges.
Other implicated senior municipal officials will also be charged.
Four municipalities invested a combined R314 million.
The affected municipalities are the provincial capital Mahikeng, Dr Ruth Segomotsi Mompati District at Vryburg, Madibeng at Brits and Moretele near Hammaskraal.
Premier Mokgoro says: “We initiated forensic investigations and on the basis of the outcome we have given various directives. In Madibeng and Mahikeng we have taken action by suspending the municipal managers.”
