A state prosecutor in a case related to the VBS Mutual Bank saga told the Thohoyandou Magistrate’s Court in Limpopo that it is difficult for investigators to finalise investigations because the intimidation was pre-planned
A Limpopo businessman who invested more than one million rand in the defunct VBS Mutual Bank says he had to retrench 16 workers after the bank was closed.
Four more companies have been liquidated through the High Court in Pretoria in the ongoing process to recoup money lost by creditors and depositors in the liquidated VBS Mutual Bank.
VBS Mutual Bank liquidator Anoosh Rooplal says many municipalities have lodged their claims to the insolvent estate of the bank during the liquidator’s second meeting of creditors.
VBS Mutual Bank liquidator, Anoosh Rooplal says the claims submitted by the bank’s depositors will assist in determining the exact amount looted at the bank.
One of the minority shareholders in the liquidated VBS Mutual Bank, Madambi Muvhulawa says he has accepted that it will not be possible to resuscitate the liquidated bank.
An opposition councillor in the Elias Motsoaledi Municipality at Groblersdal in Limpopo says he has been receiving death threats related to the VBS saga from an identified caller.
Community leaders in the Vhembe district in Limpopo, are concerned that there has not been any arrest related to the looting and collapse of the now liquidated VBS Mutual Bank.
Police Minister Bheki Cele says some dockets are already before the National Prosecuting Authority (NPA) for prosecution of people implicated in corruption in relation to the downfall of now-liquidated VBS Mutual Bank.
Former PIC CEO Dr Dan Matjila has denied receiving R5 million cash from VBS in return for facilitating funding for the now defunct mutual bank.