Latest articles on Paul Magula

More arrests expected in the R2.3bn VBS heist

National Khaya Koko - 8 Oct 2020

Prosecutors tell the court that more people will be charged and additional charges will be added to the seven accused in a new charge sheet

‘Haunted’ VBS executive Truter sentenced to seven years

National Khaya Koko - 7 Oct 2020

Phillip Truter, the former chief financial officer of the defunct mutual bank who pleaded guilty to fraud and other charges, will work with authorities on how the alleged heist took place

VBS’s fuel scheme lost PIC millions

Article Sabelo Skiti - 19 Jul 2019

Forensic investigation discovers anomalies in withdrawals, but top executives approved them

Former PIC officials implicated in VBS heist banned from financial services sector

Article Tebogo Tshwane - 18 Mar 2019

Paul Magula and Ernest Nesane both sat on the board of VBS to guard the PIC’s interests

PIC man digs himself a deep hole

Article Thanduxolo Jika - 15 Mar 2019

When Paul Magula testified this week about malfeasance, he should have recalled what he reportedly told the VBS investigators

Former PIC executive denies wrongdoing in VBS looting

Article Tebogo Tshwane - 11 Mar 2019

Paul Magula was dismissed by the PIC in April 2018 for poor performance and failing to protect the PIC from risk and financial loss at VBS

ANC: Heads must roll over ‘alarming’ VBS Mutual Bank report

Article Jenna Etheridge & Kyle Cowan - 11 Oct 2018

The report recommended that more than 50 individuals be criminally charged and held liable in civil proceedings

Ramaphosa to appoint commission of inquiry to probe PIC

Article Lynley Donnelly - 16 Aug 2018

The PIC recently announced it was appointing a forensic investigator to look into its investment in the embattled VBS Mutual Bank

Court gags Holomisa over PIC corruption claims

Article Mashadi Kekana - 16 Jul 2018

A major BEE firm and business leaders took Bantu Holomisa to court after he wrote President Cyril Ramaphosa an open letter

Fedusa calls for former PIC directors linked to VBS Bank to be declared delinquent

Article Lameez Omarjee - 15 Jul 2018

Fedusa wants the pair to be declared delinquent directors for 'failing to apply the highest standards of ethics and good corporate governance'

Further PIC bloodletting in wake of VBS looting

Article Thanduxolo Jika - 13 Jul 2018

The PIC crisis comes as the embattled VBS bank was placed under curatorship in March after Reserve Bank discovered liquidity issues

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