Three suspects arrested in connection with VBS Mutual Bank corruption involving R148m were granted bail on Wednesday when they made their first appearance in the Giyani magistrate’s court. 

Risimati Hitler Maluleke was granted bail of R25,000, while Nditshedzeni Mashau and Zwivhuya Goodness Thishonge were granted R20,000 bail.

The Giyani municipality VBS Mutual Bank trio was arrested in a Tuesday morning raid by the serious corruption investigation unit of the Hawks.

“During 2017, two of the suspects invested R148m in VBS Mutual Bank,” said Hawks spokesperson Col Katlego Mogale. “It is alleged that “large amounts were paid to VBS Mutual Bank-affiliated companies as so-called ‘commissions’. Some of this money was laundered through several bank accounts including that of the third suspect,” Mogale added.

The case will resume in the Polokwane specialised commercial crimes court on May 13 for docket disclosure.