Vbs Mutual Bank The Great

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

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

We will probably hear premiers, a minister or even the president saying they “condemn in the strongest terms” what is happening in municipalities

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

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

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

The UDM leader wants the PIC inquiry to probe millions allegedly received by former PIC CEO, Dan Matjila

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

His business partner has taken him to court alleging that he transferred their company’s money into his personal account

R80-million left the CSOS in two tranches under the pretext of being an investment

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

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

The Reserve Bank placed VBS under curatorship in March this year after the mutual bank had experienced what had then appeared to be a liquidity crisis

One of the main lessons from the VBS Bank collapse in South Africa is that audit reports need to be treated with a degree of circumspection

The party’s provincial spokesperson, Machike Thobejane, confirmed the suspension