The Sunday Times is reporting that an investigation of the fraud at VBS Mutual Bank led to the discovery of an alleged fraudulent bond application in the name of one of Julius Malema’s relatives.
The order forms part of a bid by Anoosh Rooplal - the liquidator of VBS Mutual Bank - who aims to recover R2.7 million that was part of a R4 million loan granted to Shivambu’s company, Sgameka Projects in 2017.
Gilbert Kganyago was suspended with immediate effect as the SACP's provincial secretary on Thursday.
Motau says he has the legal maturity to defend his decision to name individuals in the report even though they were not given the opportunity to respond.
But the National Prosecuting Authority says the probe is not yet at a stage to determine who should be prosecuted.
Cyril Ramaphosa says action must also be taken against municipal officials and politicians who deposited public funds with VBS while knowing this was against the law.
The ANC Limpopo treasurer says he was never given an opportunity to tell his side of the story, and is challenging the part of the report that implicates him in the High Court.
Workers locked the mayor and councillors inside the municipal chambers, calling on them to come up with a solution.
The league has welcomed the party's integrity commission’s recommendation that the pair steps down along with other ANC leaders who have been implicated in the VBS scandal.
The Reserve Bank released a report titled The Great Bank Heist which details how R1.8 billion was brazenly looted from the mutual bank.
Talk Radio 702 host Xolani Gwala speaks to Reserve Bank Governor Lesetja Kganyago about his reaction to the review of the South African GDP growth by the IMF and the report on VBS Bank.
