New proof ahead of the high court demonstrates that ANC Limpopo treasurer basic Danny Msiza allegedly really benefited through the wide-scale looting of VBS Mutual Bank, despite their denials

Msiza presumably received more than R1.5m paid to an organization of which he along with his wife are directors, from the middleman whom facilitated multimillion-rand illegal deposits from municipalities into VBS, Kabelo Matsepe.

Matsepe’s business Moshate, also presumably assisted in servicing a bond that is r9.5m provided to Msiza’s business for a Polokwane home under questionable circumstances by VBS.

Msiza had been identified in a report that is explosive advocate Terry Motau, SC, en titled the truly amazing bank heist’ , being a kingpin whom facilitated through his governmental influence the ‘investments’ by Limpopo municipalities in VBS bank, totalling vast sums of rands.

VBS had been placed directly under curatorship in March this which led to many of the municipality’s deposits being ‘frozen’ year. These municipalities are now actually facing monetary spoil and are usually placed directly under management because they battle to get over the depletion of the coffers.

The officials that are municipal paid ‘commissions’ or bribes to facilitate the opportunities, that have been utilized to connect money gaps when you look at the bank’s publications.

Now – despite their denials – proof had been presented in brand brand new court papers to show that Msiza individually benefited from looted VBS money.

Motau ended up being mandated, along with Werksmans Attorneys, by the Prudential Authority (previously the Registrar of Banking institutions) to analyze findings by the curator, Anoosh Rooplal, that the financial institution have been driven into a posture of monetary difficulty through massive fraudulence.

Motau unearthed that significantly more than R2bn was stolen.

Backfired

Msiza, who has been fighting for their governmental life in recent days, filed a court application in October trying to challenge Motau’s report as well as in specific, for paragraphs associated with the are accountable to be “expunged/deleted”.

It now seems that their court application has backfired.

Motau’s responding documents, that have been offered on Tuesday, have actually revealed evidence that motivated their conclusions and findings that Msiza played a role that is crucial the VBS looting scheme.

Motau had been just needed to offer the court together with his known reasons for including facts and testimony emanating from their research that dealt with Msiza.

Motau annexed WhatsApp messages between Msiza and Kabelo Matsepe, whom Motau described their report as being a fixer that is politically connectedwho became a really well-remunerated middleman and acted as being a gatekeeper between VBS and also the municipalities”.

He additionally supplied the court with transcripts of interviews he carried out with different VBS roleplayers.

“The documentary proof reveals that the applicant has benefited significantly from Kabelo Matsepe to his relationship along with his business, Moshate Investments,” Motau’s papers read.

Moshate Investments had received R27m between December 2015 and March 2018.

In trade, Matsepe would ‘introduce’ municipalities to VBS and “if the municipality invests”, Matsepe would make a commission – paid from various slush fund reports operated by VBS’ bulk shareholder Vele Investments.

Matsepe, the ANCYL that is former leader Limpopo, confirmed he received the payment re re payments, but denied that there is anything illegal afoot.

Your house VBS bought

Motau now highlights what sort of relationship for R9.5m ended up being registered with VBS within the title of Mojovax – an organization of which Msiza along with his spouse would be the directors that are sole.

Mojovax joined right into a deed of purchase to get the Polokwane property in 2016 december. In January 2017, Msiza forwarded the deed of purchase to previous CEO of VBS, Andile Ramavhunga.

Ramavhunga forwarded it to another VBS worker and claimed: ” Could you please get ready for this? It is rather crucial that individuals are diligent concerning this. It is for the Limpopo treasury TG.”

” No appropriate application ended up being designed for the home loan center,” Motau’s court papers read. “The actual only real record of a credit card applicatoin is usually to be present in an incomplete type.”

The shape, which Motau connected, indicated that Msiza’s business Mojovax had been the applicant but no more details had been supplied, no economic evaluation ended up being conducted regarding the business, no supporting paperwork to show the replacement values and market value of the home had been provided and lots of parts had been kept blank.

“not surprisingly, it really is clear that Mojovax ended up being given home financing loan center of R9.5m,” Motau states.

By might 19, 2017, the transfer of this Polokwane home ended up being carried out custom-writings.net prices in favor of VBS as well as on May 31, 2017 – following the relationship account is made internally – the complete R9.5m was premium to two law offices in respect for the purchase.

It had been merely as much as Msiza to maintain along with his month-to-month repayments.

But, with what happens to be almost the norm for politically people that are connected secure loan facilities through VBS under questionable circumstances, he would not.

Instead, sporadic re payments were created from Matsepe’s company, Moshate – utilizing cash Moshate received for assisting the illegal municipal opportunities.

Motau attached evidence to demonstrate that, between July 11, 2017 and March 29, 2018, Moshate (Matsepe) compensated R716 000 into Mojovax’s (Msiza’s) relationship account with VBS.

A further R1.315m was paid from an unknown Standard bank-account – in four components – March 20, might 8, July 4 and July 13, 2018.

“there’s been no further repayment to the Mojovax relationship account since 13 July 2018,” Motau states.

Motau additionally detailed just exactly just how Matsepe’s Moshate received a R500 000 payment from VBS the time before he, in turn, paid R200 000 into Mojovax’s relationship account.

In addition, Motau revealed from bank statements which he obtained of Moshate’s records, that Msiza’s business (Mojovax) was compensated R1.5m on January 17, 2018 by Matsepe – each and every day after VBS paid R2m to their business, Moshate.