The South African Police Service (SAPS) unit, the Hawks has arrested four suspects - including a former Land Bank CEO and a former housing MEC in Gauteng. In 2008, we began an investigation when it became apparrent that some of the money that was allocated to the Land Bank to fund small, medium and micro enterprises that were struggling finanicially, was being used for other purposes than intended.
R100 million was paid into the AgriBEE Fund. Our investigation shows that R19 million of this was paid into a firm of attorneys. Of this, we will present evidence to show that R14 million was used to buy, among others, houses and cars - which is not what the fund was intended for.
Two suspects were arrested in Polokwane, another in Bela Bela, and the fourth handed himself over at the Brooklyn Police Station in Pretoria. The suspects face charges of fraud, theft and money laundering. They will appear in the Commercial Crimes Court in Pretoria tomorrow.
Enquiries:
Col McIntosh Polela – Spokesperson for the Directorate for Priority Crime Investigations of the SAPS (Hawks)
Cell: 082 475 1427 or 079 563 1625
Tel: 012 400 6584 / 6579
E-mail: dpci.communication@saps.org.za
