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[LISTEN] The state of VBS Mutual Bank

The Money Show’s Bruce Whitfield speaks to VBS Mutual Bank curator Anoosh Rooplal about the state of the bank after it withdrew the bank's March 2017 audited financial statements.

JOHANNESBURG - VBS Mutual Bank’s curator Anoosh Rooplal has withdrawn the bank's audited financial statements for the year to the end of March 2017.

Rooplal said the statements were unreliable due to several anomalies and material misstatements.

The Money Show’s Bruce Whitfield interviews VBS Mutual Bank curator Anoosh Rooplal about the state of the bank.

“We have found instances of poor governance and mismanagement at the bank,” Rooplal says.

Rooplal says he is glad the SA Reserve Bank heeded his call for an investigation of the bank.

For more information listen to the audio above.

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