The acting president of the National African Federated Chamber of Commerce and Industry (Nafcoc) and CEO of Silver Vanity, Sekwame Gilbert Mosena, is among two people who made a brief appearance in a Gauteng court on Wednesday.

Mosena, 63, and Tselane Mary Baggot, 51, a director and company secretary of Silver Vanity, both handed themselves over to the serious economic offences team at Sandton police station earlier in the day, according to Hawks spokesperson Col Katlego Mogale.

“It is alleged that around 2015, Zakhumzi Construction entered into a service level agreement with Silver Vanity to manage and maintain the properties belonging to the latter.

“During August 2018, the department of public works paid R14m to Zakhumzi as back payment including escalations. Zakhumzi [allegedly] misappropriated and laundered the rentals without disbursing the shareholders of Silver Vanity.”

The two appeared in the Palm Ridge specialised commercial crimes court facing theft and money laundering charges.

Mogale confirmed Mosena and Baggott were granted R10,000 bail each and are due back in court on August 24.

“The investigation continues, and more arrests are expected,” Mogale said.

Source: TimesLIVE