Vbs bank heist
Trial date set for VBS Mutual Bank theft case
The case of 14 suspects was delayed due to a change of legal representatives by some of the accused.
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.
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.
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.
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.
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.
A report by Daily Maverick alleges that the EFF used money from the VBS bank heist to fund its fourth birthday bash in Durban.
Patricia de Lille has approached Busisiwe Mkhwebane to investigate the municipality's R350 million investments in various financial institutions.
Fear spread through poor rural communities across South Africa in November when VBS, a regional bank that catered to poorer customers, collapsed.
This follows the ruling by the High Court in Pretoria to grant the Prudential Regulation Authority its application to liquidate the bank.
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.
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.
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 meeting witl discuss various issues including the looting of the VBS Mutual Bank and the alleged involvement of its leaders.
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.
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.
The Reserve Bank's Prudential Authority says that the final winding-up of VBS is in the best interests of all parties.
The party says it is only aware of a R250,000 transaction from Vele Investment, the majority shareholder in VBS.
Weekend reports stated that the party had actually received over R2 million towards its local government election campaign in 2016.