South
African Police Service LT
GEN
Fingered
in VBS
2.7
Billion Rand
Bank
Heist
“Sitole told MPs that SAPS
CFO Lieutenant-General Phalaphala Avhashoni Ramikosi and the police's
technology chief‚ Lieutenant-General Adeline Shezi‚ have been placed on
suspension after their names featured prominently in questionable contracts
entered into by SAPS with controversial service provider Forensic Data Analysts
(FDA)‚ including R106-million in over-expenditure over three years.”
The arrest of
the VBS Bank looters will lead to more looting.
Investors in
VBS included the poor, pensioners, rate payers, and people investing their
disposable income. Reports show that up to 2.7 billion rands were
misappropriated from this bank.
With the fiscus of the country now depleted
through wholesale corruption, the government is seeking to strip the private
sector pension funds of its assets by various means.
They cannot do this
without first showing a track record of dealing with those involved in
institutional corruption, because the contrary would be a powerful argument in the
courts preventing the further theft of assets by the government.
This is a
Smoke and Mirrors Case setting the stage for plundering the assets of others on
a massive scale
