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ANC's Mthembu promises strong action against members involved in VBS heist

A report commissioned by the South African Reserve Bank (Sarb) implicated 53 individuals and companies to the looting of over R2 billion from the bank.

FILE: ANC Chief Whip Jackson Mthembu. Picture: Bertram Malgas/EWN

JOHANNESBURG - The African National Congress (ANC)'s Chief Whip in Parliament Jackson Mthembu says that the party's integrity commission will take strong action against party members involved in the VBS Mutual Bank fraud.

A report commissioned by the South African Reserve Bank (Sarb) implicated 53 individuals and companies to the looting of over R2 billion from the bank.

The party's deputy chairperson in Limpopo, Florence Radzilani, and Treasurer Danny Msiza were named in the report but have denied the allegations.

The ANC's integrity committee met this week to discuss how to deal with the matter.

Mthembu says the VBS Bank scandal goes beyond just the ANC: "It also goes to municipalities that deposited money in that bank in a fraudulent manner because that was not a commercial bank and the municipalities could not have by law deposited money in that bank."

Mthembu was speaking on The Breakfast Show with Bongani Bingwa on Friday morning.

LISTEN: ANC's Mthembu promises strong action against members involved in VBS heist

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