The ‘Great Bank Heist’ report found that R1.9-billion had been looted from the mutual bank, implicating him along with at least 50 other individuals
Thanks to massive fraud at VBS there is “no prospect” of any resolution for the bank says the prudential authority
The Free State Development Corporation was third on the list of those who received large sums of money from the embattled bank
King Toni Mphephu Ramabulana said that if he had received payments fraudulent payments, it was without his knowledge
Many of those named in the report are taking legal action or protesting their innocence, but its author is standing his ground
An explosive report commissioned by the Reserve Bank identifies alleged kingpins in the looting of the beleaguered mutual bank
Andile Ramavhunga was provisionally sequestrated, along with Robert Madzonga
During proceedings on Wednesday, Robert Madzonga’s advocate, said his client only became aware of the looting on March 11 this year
VBS CEO Andile Ramavhunga became the focus of sequestration proceedings in the Johannesburg high court on Tuesday afternoon
Breakdown of the VBS Mutual Bank saga — what you need to know
Two Vele Investments bigwigs are at the heart of a power struggle as the VBS fraud saga continues
The PIC crisis comes as the embattled VBS bank was placed under curatorship in March after Reserve Bank discovered liquidity issues