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Vbs Bank

The vicious cycle of NSFAS: A journey through corruption and hope
Partner Content
/ 23 October 2023

The vicious cycle of NSFAS: A journey through corruption and hope

The real tragedy lies in the suffering of the students

By Dr Linda Meyer & Patrick Fish
Parliament’s findings against Shivambu prove nothing, says EFF 
Politics
/ 3 October 2023

Parliament’s findings against Shivambu prove nothing, says EFF 

The Economic Freedom Fighters deputy president failed to declare money transferred to him from a company owned by his brother, known as a VBS Mutual Bank beneficiary

By Lizeka Tandwa
ANC committee clears Maneli & Mogale-Letsie in VBS scandal
National
/ 25 February 2022

ANC committee clears Maneli & Mogale-Letsie in VBS scandal

The ANC dispute committee called the Gauteng PEC’s step-aside ruling against two former mayors linked to the VBS bank ‘harsh’ and ‘extreme’

By Lizeka Tandwa
ANC’s Danny Msiza ordered to step aside or face suspension
Politics
/ 17 August 2021

ANC’s Danny Msiza ordered to step aside or face suspension

The party’s deputy secretary general said the step-aside resolution must be applied without deviation

By Lizeka Tandwa
In a bizarre twist VBS liquidators sue KPMG for R863mn
Business
/ 24 February 2021

In a bizarre twist VBS liquidators sue KPMG for R863mn

In filed court documents, the VBS liquidators are blaming auditing firm KPMG’s negligence for the alleged looting of the bank

By Khaya Koko
Editorial: The ANC lacks consequence management
Editorial
/ 16 July 2020

Editorial: The ANC lacks consequence management

President Cyril Ramaphosa’s Nasrec promises about accountability need to be effected by the ANC, but the party seems incapable of self-policing

By Editorial
The case against Floyd Shivambu
Politics
/ 9 July 2020

The case against Floyd Shivambu

The flow of money from VBS Bank would seem to suggest that the EFF’s second-in-command was an ultimate beneficiary of proceeds of a crime

By Thanduxolo Jika
Workers’ R60m ‘lost’ in banks scam
Article
/ 22 January 2020

Workers’ R60m ‘lost’ in banks scam

An asset manager, VBS Mutual Bank and a Namibian bank have put the retirement funds of 26 000 municipal workers in South Africa at risk

By Sabelo Skiti
VBS and Steinhoff investigations at “advanced stage” — NPA and SIU
Article
/ 16 October 2019

VBS and Steinhoff investigations at “advanced stage” — NPA and SIU

Crime-fighting bodies update MPs on why high-profile investigations into VBS Mutual Bank and Steinhoff have not yielded results

By Lester Kiewit
Shivambu hit with VBS legal bill
Article
/ 4 October 2019

Shivambu hit with VBS legal bill

Brian paid back the money before liquidator could attain records to company dealings. He incurred costs, however

By Thanduxolo Jika
VBS bounty buys Floyd a Rover
Article
/ 20 September 2019

VBS bounty buys Floyd a Rover

The EFF leader admits he bought the vehicle but denies there was a link to the now defunct bank

By Thanduxolo Jika and Sabelo Skiti
Hawk eyes for municipal crimes
Article
/ 13 September 2019

Hawk eyes for municipal crimes

A report by the auditor general said most municipalities, which are supposed to be on the front line of service delivery, were in financial difficulty

By Lester Kiewit
Millions lost and now more VBS liquidations
Article
/ 13 September 2019

Millions lost and now more VBS liquidations

The bank’s liquidator has gone after two more people who allegedly profited, as well as former president Jacob Zuma

By Sabelo Skiti and Thanduxolo Jika
Why South African law on directors’ delinquency is open to abuse
Article
/ 2 September 2019

Why South African law on directors’ delinquency is open to abuse

For the first time in SA company law, courts can declare directors delinquent. This new remedy must not be abused by those with the power to use it

By Rehana Cassim
Brian Shivambu ordered to pay R1.8m for unpaid VBS loan
Article
/ 29 August 2019

Brian Shivambu ordered to pay R1.8m for unpaid VBS loan

The order is in relation to an application by the liquidator of the VBS Bank, as part of a R4-million loan granted to the younger Shivambu’s company

By Sabelo Skiti
VBS’s fuel scheme lost PIC millions
Article
/ 19 July 2019

VBS’s fuel scheme lost PIC millions

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

By Sabelo Skiti
Matjila & Co must face the music
Article
/ 11 July 2019

Matjila & Co must face the music

The PIC’s former boss and two executives who allegedly took ‘gifts’ from the bank to look the other way

By Thanduxolo Jika and Sabelo Skiti
I did not receive a loan from VBS — Matjila
Article
/ 9 July 2019

I did not receive a loan from VBS — Matjila

The former PIC CEO denies allegations made by UDM leader Bantu Holomisa

By Thando Maeko
VBS Mutual liquidators target KPMG
Article
/ 31 May 2019

VBS Mutual liquidators target KPMG

Liquidators are investigating the auditing firm’s sign-off on financial statements, while two former executives also pursue a lawsuit against it

By Thanduxolo Jika
VBS curator in court to recover Shivambu loan
Article
/ 13 April 2019

VBS curator in court to recover Shivambu loan

Brian Shivambu has not serviced the loan and is in arrears of more than R2.7-million

By Sabelo Skiti
Rawula resigns, calls on EFF to produce financials
Article
/ 10 April 2019

Rawula resigns, calls on EFF to produce financials

The former head of the party’s disciplinary commission, accused EFF leaders of financial mismanagement and accepting a donation from VBS Bank

By Lizeka Tandwa
Read the unembargoed March 15 – 21 edition of the M&G
Article
/ 18 March 2019

Read the unembargoed March 15 – 21 edition of the M&G

Corruption pays: The multimillionaire who sold off SA’s fuel reserves, and Fired PIC exec ‘lied’ about VBS bank bribes

By Mg Reporter
Ex ‘VBS’ mayor wants R38-million
Article
/ 15 March 2019

Ex ‘VBS’ mayor wants R38-million

Florence Radzilani is claiming R38-million for defamation, loss of income and reputational damage

By Thanduxolo Jika
PIC man digs himself a deep hole
Article
/ 15 March 2019

PIC man digs himself a deep hole

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

By Thanduxolo Jika
Former PIC executive denies wrongdoing in VBS looting
Article
/ 11 March 2019

Former PIC executive denies wrongdoing in VBS looting

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

By Tebogo Tshwane
Court rules North West PEC must be reinstated
Article
/ 6 February 2019

Court rules North West PEC must be reinstated

The high court found that the consultative process in the lead-up to the disbandment of the PEC in 2018 was not compliant with the ANC’s procedures

By Sarah Smit
Court rules that Supra Mahumapelo be reinstated as North West Premier
Article
/ 6 February 2019

Court rules that Supra Mahumapelo be reinstated as North West Premier

The high court found that the consultative process in the lead-up to the disbandment of the PEC in 2018 was not compliant with the ANC’s procedures

By Sarah Smit
Court bid to freeze VBS’s R80m
Article
/ 1 February 2019

Court bid to freeze VBS’s R80m

Community schemes service says money meant for VBS went into an FNB account

By Sabelo Skiti
Allow local councils to do their fiscal duties
Article
/ 15 January 2019

Allow local councils to do their fiscal duties

Top-down meddling by central government flouts the laws and spirit of multilevel democracy

By Eddie Rakabe
Home ombud advised to lay charges
Article
/ 11 January 2019

Home ombud advised to lay charges

The CSOS has been asked to lay attempted theft charges against a service provider who deposited the agency’s funds into his own company’s account

By Thanduxolo Jika
Unembargoed: December 20 to January 3
Article
/ 2 January 2019

Unembargoed: December 20 to January 3

Uncaptured: We go behind the scenes to reveal how the state was won back

By Mg Reporter
R80m VBS loss for homes ombud
Article
/ 20 December 2018

R80m VBS loss for homes ombud

A forensic report has found the Community Scheme Ombud Service investment was reckless

By Thanduxolo Jika and Sabelo Skiti
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