A married couple has been ordered to pay R100 million, plus interest, to the liquidators of VBS Bank for a loan they took out in 2016 to produce half a million set-top boxes.
Itumeleng Mafoko and his wife Mabuyi Memela, the owners of Leratadima Marketing Solutions, were found to be in breach of their loan contract to the bank, which was placed into liquidation in November 2018 following massive fraud. VBS liquidator Anoosh Rooplal has, for the past four years, been seeking to recover hundreds of millions of rands in funds owed to the bank in a series of civil court actions. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
JanTamb _Business Dream on…. They won’t even pay a 100 million cents back. The privileged/political elite and connected appear to consider the banks are there to be raped with little to no consequences… illicit funds disappear/buried/squirreled away for later enjoyment.Dream on!!!
JanTamb _Business That can't be right, consequences for your actions 🤔
JanTamb _Business Waiting for Juliaaas to get a call.
JanTamb _Business This has Faith Muthambi written all over.
JanTamb _Business very good , let hope the long arm of the law does not miss any fighters
JanTamb _Business And Zuma
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