Faizel Patel, Radio Islam News – 12-10-2018
DA says Tito Mboweni must strengthen reporting structures in light of VBS scandal.
The DA says new Finance Minister Tito Mboweni must strengthen the reporting structures to ensure that municipalities are held accountable about where they deposit their money.
The party laid charges against 50 people yesterday who allegedly siphoned billions from VBS Mutual Bank.
The damning forensic report‚ titled The Great Bank Heist and compiled by advocate Terry Motau and Werksmans Attorneys‚ goes into detail about how the bank heist allegedly occurred.
Speaking to Radio Islam, the DA’s Kevin Milehm says treasury should have discovered VBS was falsifying their reports to the Reserve Bank including illegally depositing money into a mutual bank which they are prohibited from doing so in terms of the municipal finance management act.
“I would expect finance minister Tito Mboweni to take immediate steps to ensure that the reporting is cleaned up and made more robust to ensure that no one can get away with this kind scam again.”
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