Keaobaka Remigious Kgatitsoe was sentenced to five years imprisonment which was wholly suspended for five years when he appeared in the Pretoria Specialised Commercial Crime Court on 12 July 2022, on the Fetakgomo Tubatse Local Municipality case relating to VBS investments.
Kgatitsoe, the owner of Kelotloko Property is reported to have assisted the Chief Financial Officer of the municipality to submit fictitious invoices to VBS linked to the investments made by the municipality.
Kgatitsoe is said to have moved the received money through his accounts and eventually paid the biggest portion over to the Chief Financial Officer.
Kgatitsoe entered into a plea bargain with the State in terms of section 105A of the Criminal Procedure Act.
He was found guilty for money laundering and sentenced to 5 years imprisonment wholly suspended for 5 years on condition that he is not found guilty of money laundering during the period.
He was also ordered to pay back the amount of R463 955-55 to the liquidator of VBS.
The amount must be paid back in four installments.
