Three businessmen aged between 49 and 60 years appeared before the East London Magistrate court on Thursday 15 February 2018, for fraud and money laundering.
Cwenga Delazola Pakade (52), Mzamo Maxwell Thomas (60), and Gilbert Thanduxolo Zuka (49), were arrested by the Hawks’ Anti Corruption Task team on Thursday morning.
It is alleged that during March 2013 just over R61 million was transferred from the Social Housing Regulatory Authority (SHRA) to Camel Rock Social Housing Institution NPC. The amount was meant to fund the building of low and middle income rental apartments in the Eastern Cape.
During April 2013 approximately R4,8 million was allegedly transferred from Camel Rock’s bank account to another business account where it was further transferred to individual accounts.
The Anti Corruption Task team commenced with its investigations into this alleged crime during April 2013 after the Forensic Department of the bank reported the suspicious bank transactions of Camel Rock to the National Treasury, resulting in the amount of R56 million being frozen.
Investigations further revealed that Camel Rock allegedly never complied with the provisions of Social Housing Institutions in first place.
The trio were each granted R5000 bail and their next court appearance will be on 1 March 2018.
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