Latest articles on Vbs Bank

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

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

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

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

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

Shivambu hit with VBS legal bill

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

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

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

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

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

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

VBS’s fuel scheme lost PIC millions

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

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

I did not receive a loan from VBS — Matjila

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

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

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