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.


VBS logo

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.