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Eight Arrested Over South Africa's VBS Bank 'Heist'

Eight suspects - including two Public Investment Corporation executives and a South African Police Service lieutenant-general - are being held in connection with the theft of U.S.187 million at VBS Mutual Bank between 2015 and 2018. VBS Bank, which has had several municipalities investing its money in it, was at the centre of the biggest banking "heist" in the country's history with over U.S.$136 million looted from its coffers.

South Africa: VBS Bank Suspects Arrested

SAnews.gov.za, 17 June 2020

The Directorate for Priority Crime Investigation (Hawks) has pounced on eight suspects allegedly behind the plundering and collapse of the Venda Building Society (VBS) Mutual Bank. Read more »
South Africa: Executives, Officials Among 'Looters' Arrested Over U.S.$187 Million VBS Robbery

Daily Maverick, 17 June 2020

Eight men were arrested early on Wednesday morning in connection with the theft of R2,7-billion at VBS Mutual Bank between 2015 and 2018. The National Prosecuting Authority issued… Read more »
South Africa: Joint Statement by Prosecuting Authority, Police Unit On Investigation Progress Into VBS Mutual Bank

Govt of SA, 17 June 2020

Media statement by the National Head of the Directorate for Priority Crime Investigation Lt Gen (Dr/Adv) SG Lebeya and the National Director of Public Prosecution Adv Batohi Read more »
South Africa: Economic Freedom Fighters Statement on the VBS Arrests

EFF, 17 June 2020

The Economic Freedom Fighters welcomes the arrests of people who are accused of acts of corruption and criminality that relates to the VBS Mutual Bank. We welcome these arrests… Read more »