Some residents of Louis Trichardt in Limpopo have commended the VBS Mutual Bank liquidator for taking legal steps in a bid to recover money looted from the now defunct bank.
The High Court in Johannesburg recently granted the liquidator an order to recover more than R5 million with interest from the former VhaVenda king, Toni Mphephu Ramabulana.
VBS was declared insolvent, bankrupt and placed under curatorship in 2018.
Some residents say Ramabulana must pay back the money so that depositors can get what is due to them.
“He is supposed to pay money back. If he eats the money, if he has the money, he’s supposed to pay it, I’m happy,” says one resident.
Another resident says: “He must pay the money, most of the people are suffering outside there so I agree with the court.”
Ramabulana says he will comment on the matter after consulting his lawyer.
Liquidator Anoosh Rooplal says in a statement that they have instructed the sheriff to attach three vehicles.
In the video below from 2018, VhaVenda King to pay back tainted VBS millions:
Zuma loan
Two months ago, the liquidator was granted an order to force former president Jacob Zuma to pay back money from a loan that he got from VBS.
This happened after Zuma defaulted on his R7.8-million loan repayments.
Rooplal said Zuma has no legal recourse to challenge the summary order granted by the High Court in Pietermaritzburg for debt owed on his home loan, as he consented to the order.
More details in the video below:
