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.

The liquidator‘s second meeting of creditors has been held before the Master of the High Court in Polokwane.

VBS was looted by politically connected people. The Mutual Bank also illegally accepted deposits from municipalities.

Rooplal says more than 600 depositors have so far lodged their claims.

“We have approximately 621 of the retail depositors who have come forward and lodged the claims so it’s a very good response.  We have a valid claim against the state so once the liquidators assess we will then pay this proven creditors and depositors so nationally the books in records are not reliable and this meeting is now helping to prove the quantum of the amount of those creditors.”

Aubrey Mulaudzi, one of the retail depositors who attended the meeting before Master of the High court, deposited more than R1-million into the liquidated bank and he says he has hope in the liquidation process.

“I deposited my deposit to the back VBS way back in 1994 almost more than R1,5 million.  I believe that it will bare fruits; the law takes long time so we believe that as they were collecting the money to those who owes VBS so we are sure that we will get our money.”