VBS mutual bank directors stole R1.5 billion

Die Vryburger

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VBS mutual bank directors stole R1.5 billion. Photo: Die Vryburger
VBS mutual bank directors stole R1.5 billion. Photo: Die Vryburger

In a report by VBS Bank’s curator, Anoosh Roopal, it revealed that the bank’s directors stole millions.

A senior official of PIC has allegedly received R5 million in return for VBS having a R350 million credit facility.

It appears that Daniel Msiza, the ANC’s Limpopo treasurer, as well as the ANC Youth League leader in Gauteng, Kabelo Matsepe, may also be involved in the “negotiations”.

The entire top structure of the bank is involved in fraudulent “negotiations” and dealings.

Read the original article in Afrikaans on Die Vryburger

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