New proof prior to the high court suggests that ANC Limpopo treasurer general Danny Msiza presumably physically benefited through the wide-scale looting of VBS Mutual Bank, despite their denials

Msiza presumably received more he and his wife are directors, from a middleman who facilitated multimillion-rand unlawful deposits from municipalities into VBS, Kabelo Matsepe than r1.5m paid to a company of which.

Matsepe’s business Moshate, additionally allegedly assisted in servicing a bond that is r9.5m given to Msiza’s company for the Polokwane home under questionable circumstances by VBS.

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

VBS ended up being placed directly under curatorship in March this 12 months, which resulted in most of the municipality’s deposits being ‘frozen’. These municipalities are actually facing monetary spoil and could be placed directly under management while they battle to get over the depletion of these coffers.

The officials that are municipal paid ‘commissions’ or bribes to facilitate the assets, that have been utilized to connect cash gaps into the bank’s books.

Now – despite his denials – proof had been presented in brand brand new court documents to personally show that Msiza benefited from looted VBS money.

Motau ended up being mandated, as well as Werksmans Attorneys, because of the Prudential Authority (previously the Registrar of Banking institutions) to research findings because of the curator, Anoosh Rooplal, that the financial institution was indeed driven into a posture of economic trouble through massive fraudulence.

Motau unearthed that significantly more than R2bn was stolen.

Backfired

Msiza, that has been fighting for their life that is political in months, filed a court application in October trying to challenge Motau’s report as well as in specific, for paragraphs of this are accountable to be “expunged/deleted”.

It now appears that their court application has backfired.

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

Motau was just needed to give you the court together with his reasons behind including facts and testimony emanating from his research that dealt with Msiza.

Motau annexed WhatsApp messages between Msiza and Kabelo Matsepe, whom Motau described their report as a politically connected fixer “who became a tremendously well-remunerated middleman and acted as a gatekeeper between VBS and also the municipalities”.

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

“The documentary evidence demonstrates that the applicant has benefited considerably from his relationship with Kabelo Matsepe and his business, Moshate Investments,” Motau’s papers read.

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

As a swap, Matsepe would ‘introduce’ persuasive speech outlines municipalities to VBS and “if the municipality invests”, Matsepe would make a commission – paid from various fund that is slush operated by VBS’ bulk shareholder Vele Investments.

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

Your house VBS bought

Motau now highlights how a relationship for R9.5m ended up being registered with VBS into the title of Mojovax – a business of which Msiza and their spouse will be the directors that are sole.

Mojovax joined right into a deed of sale to get the Polokwane home in December 2016. In January 2017, Msiza forwarded the deed of purchase to CEO that is former of, Andile Ramavhunga.

Ramavhunga forwarded it to another VBS worker and reported: ” Could you please get ready for this? It is extremely essential that individuals are diligent about that. It really is for the Limpopo treasury TG.”

” No appropriate application had been created for the home loan center,” Motau’s court papers read. “The actual only real record of a credit card applicatoin will be present in an incomplete type.”

The proper execution, which Motau attached, revealed that Msiza’s business Mojovax had been the applicant but no longer details had been supplied, no economic assessment had been carried out regarding the business, no supporting paperwork to show the replacement values and market value of the home had been supplied and lots of parts had been kept blank.

“not surprisingly, it’s clear that Mojovax ended up being provided home financing loan center of R9.5m,” Motau states.

By might 19, 2017, the transfer of this Polokwane home had been done in favour of VBS as well as on May 31, 2017 – following the bond account is made internally – the complete R9.5m was premium to two law offices in respect of this purchase.

It absolutely was merely as much as Msiza to steadfastly keep up together with month-to-month repayments.

But, with what is actually nearly the norm for politically connected people who secure loan facilities through VBS under dubious circumstances, he failed to.

Alternatively, sporadic re re payments had been made of Matsepe’s company, Moshate – utilizing cash Moshate received for facilitating the illegal municipal assets.

Motau connected 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, May 8, July 4 and July 13, 2018.

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

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

In addition, Motau revealed from bank statements r2m to his company, Moshate that he obtained of Moshate’s accounts, that Msiza’s company (Mojovax) was paid R1.5m on January 17, 2018 by Matsepe – a day after VBS paid.