Liquidators are investigating the auditing firm’s sign-off on financial statements, while two former executives also pursue a lawsuit against it
Brian Shivambu has not serviced the loan and is in arrears of more than R2.7-million
Community schemes service says money meant for VBS went into an FNB account
A forensic report has found the Community Scheme Ombud Service investment was reckless
VBS Mutual Bank granted the former president an R8.5-million bond which he could not afford
An explosive report commissioned by the Reserve Bank identifies alleged kingpins in the looting of the beleaguered mutual bank
Pandemonium reigned at the board of the Community Schemes Ombud Service. What would these officials tell the minister?
Andile Ramavhunga was provisionally sequestrated, along with Robert Madzonga
During proceedings on Wednesday, Robert Madzonga’s advocate, said his client only became aware of the looting on March 11 this year
The sequestration and liquidation matter, which is ongoing, is being heard in the Johannesburg high court on Tuesday
Disciplinary action is going to be lodged against those responsible – from the bank and the municipalities – for the funds ending up with VBS.
Breakdown of the VBS Mutual Bank saga — what you need to know
VBS Mutual Bank was set to become a commercial bank
Two Vele Investments bigwigs are at the heart of a power struggle as the VBS fraud saga continues
The PIC crisis comes as the embattled VBS bank was placed under curatorship in March after Reserve Bank discovered liquidity issues
Siphoned-off funds seem to have been used to buy a table at the party’s birthday dinner
Retrenchments are in the offing at the embattled bank, amid allegations of fraud of ‘epic proportions’
The standing committee on finance held a briefing on progress made on VBS Mutual Bank, since it was placed under curatorship in March
This is according to the 2017 annual report from the Reserve Bank’s banking supervision department, which was released on Tuesday morning
A businessperson says the bank wouldn’t look into her partner’s alleged fraudulant transactions
![We overly relied on the audited financial statements [of VBS], said Kuben Naidoo.](https://images.newsteam.io/image/1000/2Bq28FuGKoMcdDFJhpcDRNHmTgAHV47KhDbrCvGuqKGUHqSn1UemcDQp6dconosN88arB6NiUyixpcgRvLyKUpQHA7YQKYKYK4JWfe5iLKVyVAFz8tHtKTq74FF8nCTmHCpWZ24cNAVQAsyQyFNT6Gt)
