Morris "Captain KGB" Tshabalala allegedly defrauded the crime intelligence’s secret service account of more than R500 000.
The stock of EOH, an information and communications technology services provider, dropped by 55% on Friday.
The raids were conducted under the direction of the Special Commercial Crimes Unit, and were part of IPID’s investigation into Phahlane.
Robert McBride has been charged with child abuse with an alternative charge of assault with intent to do grievous bodily harm
Phahlane says the tenders allegedly being spoken about were awarded through the SITA and not the police.
In a report by News 24, Ipid spokesperson Moses Dlamini said that both Ipid and the IGI were probing the abuse of the account.
The Ipid head was charged with child abuse and an alternate charge of assault with intent to cause grievous bodily harm.
The daughter of IPID head Robert McBride has spoken out against his comments that she was influenced into making assault claims against him.
The directorate charged with investigating the police has trouble convicting the enemy within
The M&G can reveal that Hawks officials are accused of using physical force and “apartheid style tactics” to retrieve a printout of a damning email.
The three said the attacks on people working in various public institutions are aimed at undermining the fight against corruption.
The suspended Ipid head further claimed that there was interference in the case on the part of former crime intelligence boss Richard Mdluli.