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.
They appeared in the Palm Ridge Regional Court on Thursday where they all maintained their innocence.
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.
In his bail application, former VBS bank chairperson and alleged mastermind, Tshifhiwa Matodzi, said he was unemployed and had no assets.
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.
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.
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.
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.
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.
The report recommended the NEC direct Limpopo treasurer general Danny Msiza and deputy chair Florence Radzilani to step aside from all ANC activities.
The party says it is only aware of a R250,000 transaction from Vele Investment, the majority shareholder in VBS.
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.
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.
MPs are debating a Reserve Bank report which implicates more than 50 individuals and companies in corruption at VBS Mutual Bank.
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.
Cooperative Governance Minister Zweli Mkhize says once forensic investigations are completed municipalities must launch lawsuits to recoup their monies.
Cooperative Governance Minister Zweli Mkhize is to provide an update on municipalities that invested with the bank, especially the impact on service delivery.
Party leader Mmusi Maimane gave an update on the outcomes of the DA’s federal council meeting in Johannesburg earlier on Sunday.
