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ANC treasurer in Limpopo Danny Msiza, businessman and former ANC Youth League member Kabelo Matsepe and five others appeared in the Palm Ridge Magistrates Court on 12 March 2021 for their alleged role in the looting of VBS funds. Picture: Boikhutso Ntsoko/Eyewitness News.

The great bank heist

Corruption case against 18 suspects in VBS bank heist postponed to August

By Theto Mahlakoana

The National Prosecuting Authority's request that the matter be transferred to the Pretoria High Court for a pre-trial conference has been approved by the court...

  • VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/Eyewitness News

    Sarb to announce grounds to appeal VBS report judgment against it & Motau

    On Tuesday, Motau and Sarb were dealt a blow when the Pretoria High Court reviewed and set aside parts of the report.

    642 days ago
  • ANC secretary-general Ace Magashule at Luthuli House. Picture: Kayleen Morgan/EWN

    Innocent until proven guilty - ANC NEC on Limpopo officials implicated in VBS

    The party's NEC met virtually over the weekend and made resolutions on internal party matters, government response to COVID-19, job losses and international relations.

    684 days ago
  • Malema maintains his innocence in the VBS saga

    EFF leader Julius Malema sat down with journalists on 25 June 2020 where he answered questions about the allegations that he benefitted from the VBS Mutual Bank scandal. Malema maintained his and the EFF’s innocence, saying that there was no proof that he was involved in the fraud that saw the bank close its doors.

    690 days ago
  • The accused in the VBS Mutual Bank theft scandal appear in the Palm Ridge Regional Court on 18 June 2020. Picture: Kayleen Morgan/EWN

    NPA: All VBS accused have now paid their bail

    They appeared in the Palm Ridge Regional Court on Thursday where they all maintained their innocence.

    696 days ago
  • The accused in the VBS Mutual Bank theft scandal appear in the Palm Ridge Regional Court on 18 June 2020. Picture: Kayleen Morgan/EWN

    AFU will deal with reclaiming of assets in VBS matter – NPA

    The NPA welcomed the Palm Ridge Regional Court’s decision to slap seven of the eight accused persons with R100,000 bail each on Thursday.

    697 days ago
  • The accused in the VBS Mutual Bank theft scandal appear in the Palm Ridge Regional Court on 18 June 2020. Picture: Kayleen Morgan/EWN

    7 VBS accused granted R100k bail each

    In his bail application, former VBS bank chairperson and alleged mastermind, Tshifhiwa Matodzi, said he was unemployed and had no assets.

    697 days ago
  • FILE: EFF deputy president Floyd Shivambu. Picture: Christa Eybers/EWN

    DA opens case against Shivambu, EFF over allegedly benefiting in VBS looting

    This follows reports in the 'Daily Maverick' that EFF leader Julius Malema, Floyd Shivambu and other senior members received over R1.8 million from the collapsed bank.

    1271 days ago
  • FILE: An SACP flag flies outside National Treasury in Pretoria on 21 April 2017. Picture: EWN

    SACP: Claims of R3m VBS Bank payment baseless

    The party has dismissed a 'City Press' report that it was paid to remain silent about the bank's alleged relationship with the Gupta family.

    1282 days ago
  • VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/EWN

    SACP: Those involved in VBS Bank looting should be held accountable

    Capricorn District Municipality Mayor Gilbert Kganyago, who was linked to the looting of the bank, has been suspended from his job as well as his position as the SACP's provincial secretary.

    1282 days ago
  • VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/Eyewitness News

    VBS Bank: 2 top accountants given another chance to appear before Saica

    Former VBS Bank CEO Andile Ramavhunga and former Vele Investments chair Tshifhiwa Matodzi failed to arrive on Friday, but the committee believes it could have done more to communicate with them.

    1284 days ago
  • VBS Mutual Bank. Image: Sethembiso Zulu/EWN

    [EXPLAINER] Lessons from the collapse of a small South African bank

    One of the main lessons from the VBS Bank collapse in South Africa is that audit reports need to be treated with a degree of circumspection. In some cases, they will require independent verification.

    1289 days ago
  • Picture: Sethembiso Zulu/EWN.

    ANC NEC undecided on Integrity Commission’s VBS report

    The report recommended the NEC direct Limpopo treasurer general Danny Msiza and deputy chair Florence Radzilani to step aside from all ANC activities.

    1289 days ago
  • Picture: Supplied.

    ANC launches internal probe into R2 million VBS 'donation'

    The party says it is only aware of a R250,000 transaction from Vele Investment, the majority shareholder in VBS.

    1295 days ago
  • FILE: Picture: Sethembiso Zulu/EWN.

    Danny Msiza turns to court to challenge VBS Bank report

    The ANC Limpopo treasurer has confirmed to Eyewitness News the contents of the affidavit and mentions that the report had caused reputational harm to him.

    1298 days ago
  • FILE: Deputy Finance Minister Mondli Gungubele. Picture; GCIS.

    Associating black people with VBS scandal is an insult, says Gungubele

    Deputy Finance Minister Mondli Gungubele has said it’s clear from the Reserve Bank report that there was a clear intention to loot when VBS was taken over in 2014.

    1301 days ago
  • Parliament of South Africa in Cape Town. Picture: EWN

    [WATCH LIVE] National Assembly debates VBS saga

    MPs are debating a Reserve Bank report which implicates more than 50 individuals and companies in corruption at VBS Mutual Bank.

    1301 days ago
  • VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/Eyewitness News

    SA to recover 'looted' cash after VBS bank collapse

    A central bank report, titled The Great Bank Heist, into the failure of VBS Mutual bank said almost R2 billion was stolen over three years.

    1301 days ago
  • Cooperative Governance Minister  Zweli Mkhize. Picture: @NationalCoGTA/Twitter.

    Mkhize: No bailouts for municipalities implicated in VBS scandal

    Cooperative Governance Minister Zweli Mkhize says once forensic investigations are completed municipalities must launch lawsuits to recoup their monies.

    1302 days ago
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