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latest news & developments
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
Eskom reveals billion rand losses in annual financial results
Eskom’s irregular expenditure, identified under the terms of the Public Finance Management Act, rose to just under R20-billion
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
![We overly relied on the audited financial statements [of VBS], said Kuben Naidoo.](https://images.newsteam.io/image/1000/2Bq28FuGKoK2FmbRjd1eaNA6T62pNtiuRwxvGG5Bncwrpb7Dh5KNQgBwuoaK6AzjsWKr7HmtUtFkUTMhgCfyGjyK3JzZ5MYY9aQz12agfmUP9cMLTftRdkCSJY4XwkHoF41e9uWF7gkvbv3vm3TPHi4)
Reserve Bank: No guarantee municipalities will get VBS money back
The standing committee on finance held a briefing on progress made on VBS Mutual Bank, since it was placed under curatorship in March
KPMG to review all work over the last-year-and-a-half
The beleaguered auditing firm has launched a large-scale review of all work done in last 18 months
VBS Mutual Bank ‘severely mismanaged’ – SARB affidavit
SizweNtsalubaGobodo says there is reason to believe there has been fraudulent reporting and manipulation of financial information
Gupta firms sail close to the wind
With no access to banking, the family is heading into a financial storm. But it has a few lifeboats yet