Vele Investments

 
Final death knell for VBS, as liquidation application launched
Final death knell for VBS, as liquidation application launched
The prudential authority, which regulates South Africa’s banks, has applied to court to liquidate and finally wind up VBS Mutual Bank, it said in...
Another top VBS beneficiary clears the air
Another top VBS beneficiary clears the air
The Free State Development Corporation (FDC), the alleged third biggest beneficiary of monies looted from the so-called VBS heist, has come out to...
VhaVenda king offers to pay back VBS money
VhaVenda king offers to pay back VBS money
Following the release of the Reserve Bank-commissioned “
Outrage greets VBS bank report
Outrage greets VBS bank report
Several people implicated in allegations of corruption at VBS Mutual Bank have warned they will challenge the Great Bank Heist report on VBS in...
New report backs criminal charges against VBS ‘captors’
New report backs criminal charges against VBS ‘captors’
Embattled VBS Mutual Bank fraudulently paid close to R2-billion to over 50 people between 2015 and 2018.
Two more VBS execs provisionally sequestrated
Two more VBS execs provisionally sequestrated
Two more VBS Mutual Bank executives have been provisionally sequestrated, bringing the total number of managers at the institution whose assets...
Former VBS boss only heard of ‘looting’ after it happened, advocate argues
Former VBS boss only heard of ‘looting’ after it happened, advocate argues
A former VBS Mutual Bank boss only found out about alleged plundering of R1.5-billion from the institution just before it was placed under...
VBS head's explanation of R15m bonus is ‘absurd’, court hears
VBS head's explanation of R15m bonus is ‘absurd’, court hears
An explanation by VBS Mutual Bank's chief executive officer about an alleged R15-million bonus paid to him, which he says he earned for other...
VBS saga: Municipalities in for half-a-decade wait for a fraction of R1.5bn deposits
VBS saga: Municipalities in for half-a-decade wait for a fraction of R1.5bn deposits
VBS Mutual Bank allegedly broke the law by accepting deposits totalling around R1.5-billion from municipalities, which may now have to wait up to...
Magashule hails ANC provincial conferences as a step towards unity
Magashule hails ANC provincial conferences as a step towards unity
Cosatu is consulting with its affiliates regarding attempts to remove PIC boss Dan Matjila, as the fight for control of the crucial funding...
Liquidity problems were just the start
Liquidity problems were just the start
The treasury has said that retail depositors will be paid back up to R100 000 of money they had invested in VBS, which covers about 97% of...
Fedusa calls for former PIC directors linked to VBS Bank to be declared delinquent
Fedusa calls for former PIC directors linked to VBS Bank to be declared delinquent
The Federation of Unions of South Africa (Fedusa) has called for two former Public Investment Corporation (PIC) directors implicated in allegations...

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