Report into VBS Bank speaks for itself - Lesetja Kganyago
The report, which was released on Wednesday, has recommended that the implicated parties be referred to the NPA to be criminally charged.
JOHANNESBURG - Reserve Bank Governor Lesetja Kganyago says the investigation report into VBS Mutual Bank speaks for itself, and South Africans should allow the matter to be thoroughly investigated by law enforcement authorities.
The report, which was released on Wednesday, has recommended that the implicated parties be referred to the National Prosecuting Authority (NPA) to be criminally charged and that the Asset Forfeiture Unit initiate the process to recover the stolen funds.
Senior African National Congress (ANC) officials, the brother of Economic Freedom Fighters deputy president Floyd Shivambu and former KPMG bosses are among the 50 recipients of more than R1.8 billion syphoned out of the bank.
Kganyago says there is a process now that needs to be followed with the help of the relevant authorities.
“Advocate [Terry] Motau and the team at Sarb are available to assist law enforcement authorities to make sure that the people who are implicated are brought to book. So, apart from that, we wouldn’t like to comment on the content of the report.”
LISTEN: Sarb and NPA respond to VBS report
(Edited by Zamangwane Shange)