{"id":42459,"date":"2022-06-16T12:11:31","date_gmt":"2022-06-16T12:11:31","guid":{"rendered":"https:\/\/timessouthafrica.com\/?p=42459"},"modified":"2022-06-17T12:13:51","modified_gmt":"2022-06-17T12:13:51","slug":"fake-investment-scheme-mastermind-convicted-for-fraud","status":"publish","type":"post","link":"https:\/\/timessouthafrica.com\/fake-investment-scheme-mastermind-convicted-for-fraud\/","title":{"rendered":"Fake investment scheme mastermind convicted for fraud"},"content":{"rendered":"<p>PRETORIA- The former Chief Financial Officer at Collins Chabane Municipality has been arrested on Thursday, 5 May 2022 for his alleged involvement in unlawfully and irregularly investing municipal money with VBS Mutual Bank.<\/p>\n<p>It is alleged that on 23 October 2017, Collins Chabane Municipality invested R120 million with VBS in contrary with the Municipal Finance Management Act. The erstwhile Municipal Manager, Charlotte Ngobeni has since been arrested on the same matter by the Hawks&#8217; Serious Corruption Task Team members in March 2021 and released on R50 000-00 bail. Ngobeni will appear again on 9 May 2022.<\/p>\n<p>The suspect is expected to make his first appearance in the Palm Ridge Specialized Commercial Crimes Court on Friday, 6 May 2022 for contravening the Municipal Finance Management Act.<\/p>\n<p>The Hawks Investigations with regard to VBS cases are at an advanced stage and a total of 27 suspects have been arrested so far. More arrests are imminent.<\/p>\n<p>Source: South African Police Service<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PRETORIA- The former Chief Financial Officer at Collins Chabane Municipality has been arrested on Thursday, 5 May 2022 for his alleged involvement in unlawfully and irregularly investing municipal money with VBS Mutual Bank. It is alleged that on 23 October 2017, Collins Chabane Municipality invested R120 million with VBS in contrary with the Municipal Finance &#8230; <a title=\"Fake investment scheme mastermind convicted for fraud\" class=\"read-more\" href=\"https:\/\/timessouthafrica.com\/fake-investment-scheme-mastermind-convicted-for-fraud\/\" aria-label=\"Read more about Fake investment scheme mastermind convicted for fraud\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fake investment scheme mastermind convicted for fraud - Times South Africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timessouthafrica.com\/fake-investment-scheme-mastermind-convicted-for-fraud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fake investment scheme mastermind convicted for fraud - Times South Africa\" \/>\n<meta property=\"og:description\" content=\"PRETORIA- The former Chief Financial Officer at Collins Chabane Municipality has been arrested on Thursday, 5 May 2022 for his alleged involvement in unlawfully and irregularly investing municipal money with VBS Mutual Bank. 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