Media Statement
Directorate for Priority Crime Investigation (Hawks)

PRETORIA: Thabo Isaac Mokwena appeared in the Mahikeng Regional court today where he was granted R50 000 bail and his case postponed to 16 November 2021 for further investigation.

The 59-year-old Mokwena is reported to have taken part in the looting of VBS Mutual Bank through investing of the Mahikeng Local Municipality funds.   Investigation revealed that R92 million of the taxpayers was invested into VBS in contravention of the Municipal Finance Management Act.  Mokwena is said to have received gratification in form of credit facilities for purchases of two high-powered vehicles and a property in Klerksdorp amounting to over R1.7 million between 2017 and 2018.

Mahikeng is one of the 20 municipalities that had invested municipal funds into VBS. Of the R92 million, only R7 million was paid back to the Mahikeng municipality and R85 million was never paid back.

The National Head of the Directorate for Priority Crime Investigation praised the team for a job well done. "As indicated previously,  all those who participated in illegal scheme that resulted in the loss of taxpayers monies into VBS matters will be held to account," Gen Lebeya reiterated.

Ends

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