Msiza presumably received more than R1.5m paid to a business of that he and their spouse are directors, from the middleman whom facilitated multimillion-rand illegal deposits from municipalities into VBS, Kabelo Matsepe.
Matsepe’s business Moshate, additionally presumably assisted in servicing A r9.5m relationship vbs awarded to Msiza’s business for a Polokwane home under questionable circumstances by VBS.
Msiza ended up being identified within an explosive report by advocate Terry Motau, SC, en 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 now actually dealing with ruin that is financial are usually placed directly under management because they battle to get over the depletion of these coffers.