Mail & Guardian
Mail & Guardian

Anoosh Rooplal

latest news & developments
KPMG may have to repay VBS because of its alleged fraudulent audits if the defunct bank’s liquidators have their way. (Alon Skuy/The Times/Gallo Images)
ANOOSH ROOPLAL

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

  • Thanduxolo Jika
6 min read
EFF deputy CIC’s younger brother, Brian Shivambu. (Facebook)
ANOOSH ROOPLAL

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

  • Sabelo Skiti
4 min read
Former VBS chief operating officer Robert Madzonga’s wife Khosi’s Instagram account is filled with images of conspicuous consumption. Meanwhile thousands of Limpopo residents have lost their life savings. (Instagram)
ANOOSH ROOPLAL

Court bid to freeze VBS’s R80m

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

  • Sabelo Skiti
6 min read
Loss claim: CSOS was advised to take civil action to recover money lost in an unapproved investment in VBS bank. (Delwyn Verasamy)
ANOOSH ROOPLAL

R80m VBS loss for homes ombud

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

  • Thanduxolo Jika
  • Sabelo Skiti
4 min read
Former president Jacob Zuma at his Nkandla homestead in 2007. (Gallo)
ANOOSH ROOPLAL

Zuma must still pay back VBS home loan

VBS Mutual Bank granted the former president an R8.5-million bond which he could not afford

  • Agency
1 min read
Michael Cohen as sentenced to three years in prison in December, after admitting to having paid hush money during the 2016 election to two women who said they had had affairs with Donald Trump. (Eduardo Munoz Alvarez/Getty Images)
ANOOSH ROOPLAL

New report backs criminal charges against VBS ‘captors’

An explosive report commissioned by the Reserve Bank identifies alleged kingpins in the looting of the beleaguered mutual bank

  • Sarah Smit
4 min read
Michael Cohen as sentenced to three years in prison in December, after admitting to having paid hush money during the 2016 election to two women who said they had had affairs with Donald Trump. (Eduardo Munoz Alvarez/Getty Images)
ANOOSH ROOPLAL

State officials fingered in a VBS-linked dodgy deposit

Pandemonium reigned at the board of the Community Schemes Ombud Service. What would these officials tell the minister?

  • Sabelo Skiti
3 min read
Supporters of Jair Bolsonaro, the far-right leader of Brazil’s Social Liberal Party, react during the election in Rio de Janeiro on Sunday. Bolsonaro openly holds democracy in contempt. (Pilar Olivares/Reuters)
ANOOSH ROOPLAL

Two more VBS execs provisionally sequestrated

Andile Ramavhunga was provisionally sequestrated, along with Robert Madzonga

  • Caryn Dolley
3 min read
In an affidavit, VBS bank’s curator Anoosh Rooplal had named Robert Madzonga as being among the “controlling minds” behind the alleged fraud saga. (Delwyn Verasamy/M&G)
ANOOSH ROOPLAL

Former VBS boss only heard of ‘looting’ after it happened, advocate argues

During proceedings on Wednesday, Robert Madzonga’s advocate, said his client only became aware of the looting on March 11 this year

  • Caryn Dolley
3 min read
Robert Madzonga. (Delwyn Verasamy/M&G)
ANOOSH ROOPLAL

Three VBS execs provisionally sequestrated, Vele liquidated

The sequestration and liquidation matter, which is ongoing, is being heard in the Johannesburg high court on Tuesday

  • Caryn Dolley
1 min read
Michael Cohen as sentenced to three years in prison in December, after admitting to having paid hush money during the 2016 election to two women who said they had had affairs with Donald Trump. (Eduardo Munoz Alvarez/Getty Images)
ANOOSH ROOPLAL

VBS saga: Municipalities in for half-a-decade wait for a fraction of R1.5bn deposits

Disciplinary action is going to be lodged against those responsible – from the bank and the municipalities – for the funds ending up with VBS.

  • Caryn Dolley
5 min read
Saica’s members that are implicated include former chief executive Andile Ramavhunga and former holding company Vele Investments chairperson Tshifhiwa Matodzi. (SABC)
ANOOSH ROOPLAL

Liquidity problems were just the start

Breakdown of the VBS Mutual Bank saga — what you need to know

  • Lynley Donnelly
2 min read
Victims of the VBS Mutual Bank (VBS) scandal who lost their life savings say it is ironic that Economic Freedom Fighters (EFF) members are demanding the return of “stolen” land while failing to pay back the money they allegedly received unlawfully from the bank.
ANOOSH ROOPLAL

The plans to expand VBS if ‘looting’ wasn’t exposed

VBS Mutual Bank was set to become a commercial bank

  • Caryn Dolley
5 min read
The chairperson of VBS Mutual Bank
ANOOSH ROOPLAL

Power struggle rocks VBS bank’s main shareholder

Two Vele Investments bigwigs are at the heart of a power struggle as the VBS fraud saga continues

  • Caryn Dolley
4 min read
Magula was deployed to the VBS board as a non-executive director to protect the PIC’s interests which held a 25% stake in the VBS and had extended a R350-million credit facility to the bank.
ANOOSH ROOPLAL

Further PIC bloodletting in wake of VBS looting

The PIC crisis comes as the embattled VBS bank was placed under curatorship in March after Reserve Bank discovered liquidity issues

  • Thanduxolo Jika
5 min read