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Home General News

Walter Mokoena Allegedly Siphoned Money From VBS Mutual Bank!

by Mgosi.co.za
06/04/2021
2 min read
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Sports_Presenter_Walter_Mokoenas_company_Joburg_Post_accused_of_stealing_VBS_Bank_money

Walter Mokoena has allegedly sihponed money from VBS bank. Image/Instagram

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Sports personality Walter Mokoena has been flagged as one of the beneficiaries of the looting that took place at failed Venda Building Society (VBS) Mutual Bank, Sunday World reports!

READ – Thapelo Mokoena Unites The Global Ind. Film & TV Industry!

According to the paper, this detail emerged in an explosive affidavit deposed to by the bank’s liquidator Anoosh Rooplal, who falls short of accusing Walter Mokoena of knowingly participating in siphoning money from VBS.

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The Sunday paper also reports that it is the first time that Walter Mokoena, who is currently an adviser to the Minister of Sports, Arts, and Culture Nathi Mthethwa, has come up in the unfolding VBS scandal.

READ – Loot Love Left In Shambles Following Her Brother’s Death!

According to the report, VBS was placed under curatorship in March 2018 after an estimated R1.8-billion was stolen over a three-year period.

According (as per the paper) to the evidence before Rooplal, Walter Mokoena’s company, Joburg Post, which is a news website, entered into a loan agreement with VBS on April 3, 2017, for R200 000.

Two months later, Walter Mokoena’ss company signed an addendum to the April-June and was advanced a further R180 000. Joburg Post also used just over a million rand in overdraft facility.

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In the court papers, Rooplal said there is a reasonable belief that the transactions were fraudulent.

“Based on the contents of Joburg Post’s answering affidavit, it will be argued at the hearing of the application that Joburg Post was nothing other than another conduit by means of which VBS was defrauded and that the probabilities are that it was directly involved; but even if it were not, it cannot retain the benefits of the fraud itself,” argued Rooplal – as per Sunday World.

READ – Simphiwe Dana Contemplated Moving to Canada As ANC Loots!

The publication reports that VBS was placed into final liquidation by the high court in Pretoria on November 13 2018 and Rooplal was appointed as liquidator by the Master of the High Court with the task to trace and recover the assets of VBS to the benefit of all the bank’s known creditors.

Walter Mokoena, in his answering affidavit, said Joburg Post had entered into an equity investment deal with VBS, a defence Rooplal shot down.

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“The agreement for equity investment is a simulated transaction designed to try and provide the basis for Joburg Post to avoid repaying the money borrowed by it from VBS. The transaction is not a legitimate transaction.”

Walter Mokoena is a special advisor to the Minister of Sport, Arts, and Culture Founder of news App Joburg Post Founder of Sports streaming platform MySportsBook. he is also married to one of Jacob Zuma’s daughters, Nosizwe Vuso.

MGOSI.co.za

Source: Sunday World
Tags: BankillegalLootingmoneyVBSVBS Mutual BankVenda Building SocietyWalter Mokoena

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