Hawks arrest four for theft of funds at a KZN TVET College

he Hawks in Durban have confirmed the arrest of four people in connection with the theft of funds from a KZN TVET College. The four have been charged with fraud, corruption and money laundering. Captain Simphiwe Mhlongo has more on this story. Courtesy #DStv403

JOHANNESBURG- The Hawks in Durban have confirmed the arrest of four people in connection with the theft of funds from a KZN TVET College. 

The four have been charged with fraud, corruption, and money laundering.

It's alleged that between November 2018 and October 2019, R30-million was taken under the guise the funds would be invested on behalf of the college.

The institution's Chief Financial Officer is among those arrested.

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Captain Simphiwe Mhlongo said the matter was first reported to the Hawks after it was established that the funds meant for investment were not invested on behalf of the college.

"Apparently this R30 million was deviated into some sort of fictitious account in order to loot these funds," he said. 

Mhlongo said that there are no further arrests expected. 
 

Source
eNCA