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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 »
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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 »
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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 »
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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 »
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.
InFocus
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According to the Daily Maverick's Scorpio investigative journalism unit, Julius Malema's share of the R16.1-million stolen from VBS Mutual Bank and paid out to Sgameka Projects, ... Read more »
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The South African Reserve Bank has in a brief statement said it has been made aware of Africapacity's intention to buy VBS Mutual Bank, or part of it. It said the banking licence ... Read more »
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Finance Minister Tito Mboweni has called for tough action to be taken against officials tied to the VBS Mutual Bank looting scandal during his maiden appearance before parliament's ... Read more »
