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 provided to Msiza’s business for a Polokwane home under questionable circumstances by VBS.
Msiza had been identified in a explosive report by advocate Terry Motau, SC, titled the truly amazing bank heist’ , as a kingpin whom facilitated through their 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 12 months, which resulted in lots of the municipality’s deposits being ‘frozen’. These municipalities are actually dealing with ruin that is financial are usually placed directly under management while they find it difficult to cure the depletion of these coffers.
The officials that are municipal paid ‘commissions’ or bribes to facilitate the assets, that have been used to connect money gaps when you look at the bank’s books.
Now – despite their denials – proof had been presented in brand brand brand new court papers to show that Msiza myself benefited from looted VBS money.
Motau had been mandated, along with Werksmans Attorneys, because of the Prudential Authority (previously the Registrar of Banking institutions) to analyze findings because of the curator, Anoosh Rooplal, that the financial institution was indeed driven into a posture of monetary trouble through massive fraudulence.
Motau discovered that significantly more than R2bn was stolen.
Backfired
Msiza, that has been fighting for their life that is political in days, filed a court application in October wanting to challenge Motau’s report plus in particular, for paragraphs of this report 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 evidence that motivated his conclusions and findings that Msiza played a important role in the VBS looting scheme.
Motau ended up being just necessary to give you the court together with his cause of 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 a fixer that is politically connectedwho became a tremendously well-remunerated middleman and acted being a gatekeeper between VBS while the municipalities”.
He additionally offered the court with transcripts of interviews he carried out with different VBS roleplayers.
“The documentary proof demonstrates that the applicant has benefited considerably from their relationship with Kabelo Matsepe and their 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 investment reports operated by VBS’ bulk shareholder Vele Investments.
Matsepe, the ANCYL that is former leader Limpopo, confirmed he received the payment re payments, but denied that there is anything illegal afoot.
Your house VBS bought
Motau now highlights what sort of relationship for R9.5m had been registered with VBS when you look at the title of Mojovax – a business of which Msiza along with his spouse will be the sole directors.
Mojovax joined right into a deed of purchase to get the Polokwane home in December 2016. In January 2017, Msiza forwarded the deed of purchase to previous CEO of VBS, Andile Ramavhunga.
Ramavhunga forwarded it to another VBS worker and reported: ” Can you please get ready for this? it is rather essential that individuals are diligent about that. It is when it comes to Limpopo treasury TG.”
” No appropriate application had been created for the home loan center,” Motau’s court papers read. “truly the only record of a credit card applicatoin will be present in an incomplete type.”
The shape, pay for essay which Motau connected, indicated that Msiza’s business Mojovax had been the applicant but no more details had been supplied, no economic evaluation had been carried out in the business, no supporting documents to prove the replacement values and market value of the home had been supplied and many parts had been kept blank.
“not surprisingly, it really is clear that Mojovax had been provided home financing loan center of R9.5m,” Motau states.
By might 19, 2017, the transfer for the Polokwane home had been carried out in favor of VBS as well as on May 31, 2017 – following the relationship account is made internally – the r9.5m that is full premium to two law offices in respect of this purchase.
It had been merely as much as Msiza to steadfastly keep up together with his repayments that are monthly.
But, in just what happens to be nearly the norm for politically people that are connected secure loan facilities through VBS under debateable circumstances, he failed to.
Rather, sporadic payments had been produced from Matsepe’s business, Moshate – making use of money Moshate received for facilitating the illegal municipal opportunities.
Motau connected evidence to demonstrate that, between July 11, 2017 and March 29, 2018, Moshate (Matsepe) compensated R716 000 into Mojovax’s (Msiza’s) bond account with VBS.
A r1.315m that is further paid from an unknown Standard bank-account – in four components – March 20, might 8, July 4 and July 13, 2018.
“there is no further payment to the Mojovax relationship account since 13 July 2018,” Motau states.
Motau additionally detailed just exactly how Matsepe’s Moshate received a R500 000 re payment from VBS the time before he, in turn, paid R200 000 into Mojovax’s relationship account.
In addition, Motau unveiled 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.