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Detawu appalled by VBS Bank ‘heist’ report

Earlier this week, the Reserve Bank released a report detailing how nearly R2 billion was brazenly looted from the embattled bank by 50 individuals and companies.

FILE: Picture: VBS Mutual Bank Facebook page.

JOHANNESBURG - The Democratised Transport Logistics and Allied Workers Union (Detawu) has added its voice in responding to Reserve Bank’s report detailing how millions were looted by businessmen and top-end officials at VBS Mutual Bank.

The union says it’s appalled by the report findings and calls on authorities to follow the matter and arrest those implicated in the mass corruption.

Earlier this week, the Reserve Bank released a report detailing how nearly R2 billion was brazenly looted from the embattled bank by 50 individuals and companies.

Detawu’s general secretary Vusi Ntshangase says they believe top-end South African Transport and Allied Workers Union (Satawu) officials were implicated in the report and call upon the state to take its rightful place in defence of citizens who were affected by the scandal.

“We’ve been raising the flag, all along, and part of the reasons why were chased out of Satawu is that we were making noise over the shenanigans in the leadership of Satawu, by then which was involved and dragging the union right in the middle of corruption.”

Meanwhile, Economic Freedom Fighters (EFF) deputy president Floyd Shivambu has described attempts to link the eff to dealings in the bank as “disingenuous and patently weak”.

Shivambu dismissed claims that he received R10 million from the bank after it emerged that his brother, Brian, had been listed among 50 people and companies who are embroiled in the fraud and corruption.

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