VBS and the Free State connection – Magashule corruption crawls out of the rotting woodwork
The DA has requested the Auditor-General in the Free State to investigate the Free State Development Corporation’s (FDC) involvement with VBS, especially the R104 million rand which is alleged to have been looted as mentioned in Advocate Terry Motau’s report.
See the letter here.
The VBS Report implicates the Free State Development Corporation (FDC) in serious “looting” at the controversial VBS Mutual bank amounting to R104 130 932,00. The FDC’s 2017/18 Annual Report only refers to R10 018 233,00 which was inaccessible due to the curatorship imposed on the bank.
The FDC appears to have become a conduit through which resources are allocated to ANC cadres and cronies and family members of senior politicians. This is done through political influence under the pretext of promoting the development of small, medium and macro enterprises in the province.