News in brief

Kganyago named Central Bank Governor of the year

South African Reserve Bank governor, Lesetja Kganyago, has won the Central Banking Governor of the year 2018 award.

The award celebrates the officials that have best managed to stimulate growth and stabilise their economy.

Kganyago was also recently appointed as the new chairperson of the International Monetary Fund’s (IMF) International Monetary and Financial Committee (IMFC).

Nine syndicate members in court for R90m VAT fraud

The nine members of a syndicate suspected of operating a large-scale value-added tax (VAT) fraud scam amounting to more than R90 million were arrested by the Hawks at their homes in upmarket residential areas in Gauteng and KwaZulu-Natal.

Hawks Brigadier Hangwani Mulaudzi said the operation was planned with the assistance of the Hawks’ Cyber Crime, Commercial Crime and the South African Police Service (SAPS) Tactical Response Units, following an investigation by SARS criminal investigators.

Two in the dock for fraud, illegal land sales

The Hawks in Newcastle have arrested two suspects in Vryheid for rental fraud and illegal land sales amounting to about R4 million.

Busisiwe Mthethwa (53) and her accomplice Phathakahle Khumalo (70), allegedly defrauded the Othaka Community Trust.

They appeared in the Vryheid Magistrate’s Court where they were granted bail of R30 000 and R20 000 respectively.

The case has been postponed to 2 March pending further investigations.