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VBS Mutual Bank liquidator expects more arrests

On Wednesday, eight people linked to the collapse of the bank were taken into custody by the Hawks.

VBS Mutual Bank. Picture: Sethembiso Zulu/EWN

JOHANNESBURG - VBS Mutual bank liquidator Anosh Rooplal said that as investigations continued into the looting of the defunct institution, he expected more arrests.

On Wednesday, eight people linked to the collapse of the bank were taken into custody by the Hawks.

It followed a two-year investigation.

More than R2 billion was stolen over a period of three years.

Rooplal said that that the probe confirmed many of his suspicions.

"The extent of the fraud was quite pervasive, with many of the individuals implicated. Advocate Terry Motau's report identified many such perpetrators and as the investigation continues, it will perhaps highlight and flag more people that were involved."

WATCH: 8 arrested for VBS heist, 'the biggest bank robbery in this country'

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