VBS Mutual Bank
- South Africa News
ANC Limpopo won’t take action on official implicated in VBS Bank saga
The African National Congress (ANC) in Limpopo has confirmed that the party’s provincial Treasurer Danny Msiza after his arrest in…
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2 municipal officials amongst 17 charged in VBS fraud, theft & corruption case
Seventeen people have now been charged with swindling VBS mutual bank of R2.3 billion. They include two municipal officials who…
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Seven new suspects granted bail in VBS Bank looting scandal
The Palm Ridge Magistrate’s Court has granted bail to seven people who were arrested in connection with the alleged looting…
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7 suspects in VBS corruption case due in court
Seven suspects arrested for their alleged involvement in the looting of VBS Mutual Bank are expected to appear in the…
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Julius Malema drops R1m damages claim against ex-EFF MP who claimed he benefited from VBS loot – report
EFF leader Julius Malema has reportedly dropped his R1 million defamation case against former party MP Thembinkosi Rawula, who claimed…
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VBS bank case heading to High Court as more suspects added
The VBS Mutual Bank case is headed for the High Court. The case came briefly before the Palm Ridge Magistrate’s…
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More arrests and more charges expected in VBS bank heist case
More arrests are expected over the R2 billion stolen from VBS Mutual Bank, with the National Prosecuting Authority (NPA) and…
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VBS co-accused to return to court
Seven people arrested in connection with the VBS mutual bank heist will return to the Palm Ridge magistrate’s court on…
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Former CFO Phillip Truter handed 10-year sentence after pleading guilty
The former chief financial officer of the VBS Mutual Bank, Phillip Truter, was on Wednesday sentenced to ten years in…
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Hawks expect to make more corruption related arrests in Durban
The Hawks said that they planned to make more arrests for corruption and this time they would be swooping on…
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8th VBS Bank heist suspect arrested
An eight suspect in the VBS Mutual Bank investigation has been arrested by the Hawks’ serious corruption investigation team. The…
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Court doesn’t believe VBS accused can’t afford R100K bail each
Magistrate Brian Nemavhidi accused the alleged looters of VBS of trying to ‘stretch the hand of the court’ by claiming…
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Hawks arrest top VBS Mutual Bank officials
The Hawks has arrested top VBS Mutual Bank officials linked to the looting of the bank. VBS Mutual Bank collapsed…
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VBS shuts its doors due to Covid-19
The ill-fated VBS Mutual Bank has shut operations at its Thohoyandou branch and its Rivonia, Johannesburg, corporate office due to…
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Jacob Zuma to fight VBS loan summons to avoid losing Nkandla – reports
Former President Jacob Zuma has filed a notice of intent to fight a summons filed by VBS Mutual Bank for…
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DA slams NSFAS for VBS Mutual Bank tender
The DA said on Wednesday it was “deplorable” that the National Student Financial Aid Scheme (NSFAS) had awarded a tender…
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PIC welcomes decision to declare two former VBS directors delinquent
The PIC has welcomed a court decision to declare its former employees implicated in the VBS Mutual Bank saga ‘delinquent…
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Malema rubbishes VBS cash link to EFF Eyadini bash
Economic Freedom Fighters (EFF) leader Julius Malema has again rubbished claims that stolen money from the VBS Mutual Bank funded…
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EFF responds to financial mismanagement accusations
The EFF is denying accusations of financial mismanagement made by the party’s senior official Thembinkosi Rawula against Julius Malema and…
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Malema, Shivambu accused of financial mismanagement
A former senior EFF leader in its central command team has accused party president Julius Malema and his deputy Floyd…
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ANC Limpopo fires six mayors over VBS scandal
ANC Limpopo fires six mayors over VBS scandal. The ANC Provincial Executive Committee in Limpopo has made a decision to…
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Reserve Bank heads to court to have VBS shut down
The South African Reserve Bank wants to close down VBS Mutual Bank. The Reserve Bank applied to the North Gauteng…
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ANC vows to return money received from VBS Mutual Bank
ANC officials who have been implicated in the Great Bank Heist report that was commissioned by the South African Reserve…
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DA refers KPMG to Independent Regulatory Board for Auditors
The Democratic Alliance has asked the Independent Regulatory Board for Auditors (IRBA) to do a thorough review of KPMG’s conduct…
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Cosatu Limpopo set to take action against VBS looters
Provincial secretary Gerald Twala said the labour federation would organise marches to seven Limpopo municipalities who illegally deposited a combined…
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VBS Mutual Bank retrenches 94 employees
VBS Mutual Bank will retrench 94 employees. The job cuts have been under discussion since July this year after VBS was…
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Vhembe district mayor denies knowledge of dealing with VBS
Vhembe district municipality Mayor Florence Radzilani has claimed she was not aware that the municipality had conducted any business with…
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KPMG cited continues to be silent about VBS Bank mess
Embattled KPMG is set to take a huge financial knock over its role in the near R2billion fraud scandal that…
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Ramaphosa dismisses claims he was forewarned about VBS looting
President Cyril Ramaphosa on Monday rejected reports that he was aware of wide-scale looting at VBS Mutual Bank and had…
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Maimane to question Ramaphosa in Parliament over VBS bank allegations
According to reports, Cyril Ramaphosa had prior knowledge of grand corruption and looting at VBS. The Democratic Alliance is considering…
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VBS Mutual Bank can’t be saved
Advocate Terry Motau in his final report said that an amount the amount of R1.8 billion. was gratuitously received from…
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Hundreds of VBS clients now have new Nedbank bank accounts
There has been no “stampede” of VBS customers trying to withdraw money, David Schwegmann, divisional executive for retail and business banking at…
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VBS customers want their cash
VBS Mutual Bank customers are expected to show up at Nedbank branches in their numbers on Friday to access their…
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