- The Hawks swooped on three suspects allegedly linked to the looting of VBS Mutual Bank on Tuesday.
- Two of the suspects are former employees of a municipality in Limpopo.
- It's alleged they illegally invested R230 million in the bank, which was never recouped by the municipality.
The Hawks have arrested three more suspects in connection with the looting of VBS Mutual Bank.
The three suspects - a 57-year-old former municipal manager of the Fetakgomo-Greater Tubatse Local Municipality in Limpopo, a 39-year-old former chief financial officer, and a 41-year-old business owner - were arrested at their homes in Pretoria on Tuesday, the Hawks said.
The three suspects are expected to appear in the Specialised Commercial Crimes Court in Pretoria on Wednesday.
They face charges of corruption, money laundering and contravening Section 173 of the Municipal Finance Management Act.
The Hawks allege the municipal officials invested an amount of R230 million, "which was paid in five tranches from 15 November 2016 to 19 February 2018", but was never paid back to the municipality.
At least 17 people had so far been arrested in connection with the looting of the bank.
The bank's former CFO Philip Truter pleaded guilty to several charges, including theft, corruption, fraud and money laundering last year. He received a reduced sentence as he agreed to turn State's witness against his 14 former co-defendants in the main trial.
The arrests of the Pretoria business owner and the two former Fetakgomo-Greater Tubatse Local Municipality officials comes just over four months after three former West Rand District Municipality employees were arrested for allegedly investing municipal funds with the bank.
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