Three former West Rand district municipality executives allegedly linked to the VBS Mutual Bank scandal have been granted R50 000 bail each.
Moroashike Mokoena, Mzwandile Mkhize and Romeo Mohaudi were arrested by the Hawks' Serious Corruption Investigation unit on Monday, and appeared in the Pretoria Specialised Commercial Crimes Court on charges relating to the Contravention of the Municipal Finance Management Act, and the Prevention and Combatting of Corrupt Activities Act.
"The allegations … relate to investments into VBS Mutual Bank (VBS) made by municipalities. The investments made by the municipalities into VBS are reported to have been done in contravention of the provisions of the Municipal Finance Management Act by investing municipal funds with a mutual bank," said Hawks spokesperson Colonel Katlego Mogale following the arrests.
During the arrests, which took place in different locations around Gauteng, the Hawks also seized electronic devices.
The three are due back in court on 22 October, for pre-trial preparations.