Joshco CEO Mathibe granted R50 000 bail

MONEY LAUNDERING

- SIMON MAJADIBODU

POLICE have finally confirmed that Johannesburg Social Housing Company (Joshco) CEO Themba Mathibe was arrested and later released on R50 000 bail after appearing in the Alexandra Magistrate's Court on money laundering charges. He appeared in court yesterday.

National police spokesperson Brigadier Athlenda Mathe confirmed Mathibe was arrested and had appeared in court.

"Following an extensive investigation into allegations of procurement irregularities at the Johannesburg Social Housing Company, the SAPS cold case unit and Special Task Force effected an arrest on a charge of money laundering after the CEO was found with a substantial amount of money at his home," she said.

Mathe said the team was acting on a J51 search and seizure warrant where Mathibe's home and offices were raided.

"The accused has already appeared before the Alexandra Magistrates Court and has been granted R50 000 bail," Mathe confirmed.

She said investigations continue and the possibility of effecting more arrests cannot be ruled out at this stage.

This comes after reports that Mathibe was arrested on Monday and was allegedly found in possession of a substantial amount of cash.

The arrest reportedly followed a raid by law enforcement authorities at Joshco's offices as part of an investigation into alleged irregularities in certain contracts.