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FILE: 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.

Vbs bank heist

Trial date set for VBS Mutual Bank theft case

By Edwin Ntshidi

The case of 14 suspects was delayed due to a change of legal representatives by some of the accused.

  • FILE: Brian Shivambu, the man who allegedly pocketed more than R16 million from the VBS bank scandal, is said to be the younger brother of Economic Freedom Fighters (EFF) Deputy President Floyd Shivambu. Picture: Supplied.

    Brian Shivambu to pay back R4.5m received from looting of VBS - report

    An acknowledgement of debt contract seen by the 'Daily Maverick' revealed that the Brian Shivambu, the brother of EFF deputy president Floyd, signed the contract in March last year, admitting that he received millions of rands for doing nothing.

    345 days ago
  • Seven suspects arrested in connection with the multibillion rand VBS heist appeared in the Palm Ridge Regional Court on 18 June 2020. They are: (top row, from left to right) Tshifhiwa Matodzi,  Andile Ramavhunga, Phophi Mukhodobwane, (bottom row from left to right) Sipho Malaba, Avhashoni Ramikosi, Ernest Nesane and Paul Magula. Picture: Kayleen Morgan/EWN.

    VBS 7 expected back in court on 8 October after posting bail

    Magistrate Brian Nemavhidi ordered the Midrand police to detain the men, who are accused of taking more than R122 million from the VBS bank, until they paid up.

    697 days ago
  • Seven suspects arrested in connection with the multibillion rand VBS heist appeared in the Palm Ridge Regional Court on 18 June 2020. They are: (top row, from left to right) Tshifhiwa Matodzi,  Andile Ramavhunga, Phophi Mukhodobwane, (bottom row from left to right) Sipho Malaba, Avhashoni Ramikosi, Ernest Nesane and Paul Magula. Picture: Kayleen Morgan/EWN.

    GALLERY: Here are the 7 suspects nabbed for VBS heist

    Here are the men who appeared in the Palm Ridge Regional Court on 18 June and the amounts they are said to have pocketed in the multibillion-rand VBS heist.

    699 days ago
  • 8 arrested for VBS heist, 'the biggest bank robbery in this country'

    Hawks head Lieutenant General Godfrey Lebeya and NPA head Advocate Shamila Batohi briefed the media on the latest developments into the VBS investigation. Suspects are expected to appear in the Palm Ridge Court on 18 June 2020.

    700 days ago
  • FILE: Auditor-General Kimi Makwetu. Picture: Christa Eybers/EWN.

    Municipalities likely to lose R1.8bn of taxpayers' money over VBS heist

    Speaking on the 'Eusebius Mackaizer Show' on 702, he said municipalities in Limpopo, North West, and Gauteng would likely lose about R1.8 billion of taxpayers’ money as a result.

    1051 days ago
  • New claims that EFF used VBS funds for birthday bash

    A report by Daily Maverick alleges that the EFF used money from the VBS bank heist to fund its fourth birthday bash in Durban.

    1086 days ago
  • Patricia de Lille and Brett Herron at the Good party manifesto launch. Picture: Cindy Archillies/EWN.

    De Lille accuses George Municipality of VBS-style looting

    Patricia de Lille has approached Busisiwe Mkhwebane to investigate the municipality's R350 million investments in various financial institutions.

    1140 days ago
  • VBS Mutual Bank. Image: Sethembiso Zulu/EWN

    Poor South African savers ruined by bank collapse

    Fear spread through poor rural communities across South Africa in November when VBS, a regional bank that catered to poorer customers, collapsed.

    1166 days ago
  • VBS Mutual Bank in Thohoyandou. Image: Sethembiso Zulu/EWN

    Reserve Bank: VBS Bank liquidator to be appointed

    This follows the ruling by the High Court in Pretoria to grant the Prudential Regulation Authority its application to liquidate the bank.

    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.

    1284 days ago
  • FILE: Limpopo Premier Stanley Mathabatha. Picture: Facebook

    Limpopo premier set to brief media on developments in VBS Bank probe

    Limpopo Premier Stan Mathabatha is expected to outline the status of that investigation and also outline how the provincial administration will deal with those implicated.

    1289 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.

    1290 days ago
  • ANC logo: Picture: www.anclive.co.za

    ANC NEC to discuss VBS looting among other things

    The meeting witl discuss various issues including the looting of the VBS Mutual Bank and the alleged involvement of its leaders.

    1292 days ago
  • Cooperative Governance and Traditional Affairs Minister Zweli Mkhize. Picture: GCIS.

    DA opens criminal case against Zweli Mkhize over VBS 'loot'

    Mkhize was the treasurer-general of the African National Congress (ANC) when the party was alleged to have received R2 million from companies linked to the bank.

    1295 days ago
  • FILE: Former Gauteng Health MEC Qedani Mahlangu gives testimony at the Life Esidimeni arbitration hearing in Johannesburg on 22 January 2018. Picture: Sethembiso Zulu/EWN

    ANC NEC to decide fate of Hlongwa, Mahlangu

    The Gauteng PEC’s decision not to support the commission’s recommendations regarding the membership of disgraced former Health MEC’s Brian Hlongwa and Qedani Mahlangu.

    1296 days ago
  • VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/EWN

    Reserve Bank applies for VBS Mutual Bank to be liquidated

    The Reserve Bank's Prudential Authority says that the final winding-up of VBS is in the best interests of all parties.

    1296 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.

    1297 days ago
  • FILE: ANC spokesperson Pule Mabe. Picture: @MYANC/Twitter

    ANC 'willing' to pay back money linked to VBS Bank 'heist'

    Weekend reports stated that the party had actually received over R2 million towards its local government election campaign in 2016.

    1297 days ago
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