Community ombud scheme accuses two executives of malfeasance relating to VBS Bank
The Community Schemes Ombud Service, that purports to offer legal support for schemes such as sectional title body corporates, accuses the two of being grossly negligent and dishonest
The board of the Community Schemes Ombud Service (CSOS) has served a possible suspension letter to its chief ombud Adv Seeng Letele‚ and CFO Themba Mabuya‚ amid allegations they were grossly negligent‚ dishonest, and in dereliction of duty in their investment of surplus funds into VBS Bank. They also stand accused of failing to provide relevant information to the board relating to other investments. The board has given Letele and Mabuya until Thursday to make representations about their suspension. In a statement on Wednesday‚ the CSOS board said it is investigating the allegations "with a view to possibly instituting disciplinary proceedings".
Board chair Rev Vukile Mehana said: "The board is interested to receive representations from Letele and Mabuya, but should we not receive [them] in the stipulated time‚ the board will proceed to suspend [them] without their submissions." In June‚ the Mail & Guardian reported on allegations that the recently established CSOS had invested...
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