An estimated R2-billion is believed to have been stolen from VBS' coffers in the past few years.says the Reserve Bank has blocked funds transferred to the now liquidated bank, hampering the recapitalisation plan.The minority shareholders held a media briefing at Thohoyandou in Limpopo on Friday to provide an update in the saga.
The forum says those who fail to comply must be prosecuted because they will be deemed to have stolen money.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
What recapitalization plan is there for a Bank that has already being placed under curatorship by SARB? VBSMutualBank
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Total of R1.8 bln looted from VBS: Deputy Governor - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Deputy Governor of the Reserve Bank has confirmed that a total of R1.8 billion was looted from the now liquidated VBS Bank. So when will vulnerable people get their money back? EFFSouthAfrica FloydShivambu PresJGZuma MYANC look what has been done to the poor people's hard earned money. VBS When will prosecution starts?
Source: SABC News Online - 🏆 32. / 51 Read more »
In Business: AngloGold’s mining rights under threat, battle to stop copyright bill, VBS claims more victimsIn City_Press Business today: AngloGold Ashanti threatened with loss of its local mining rights by department of mineral resources; VBS Mutual Bank claims another victim as an insurance group destroyed by its exposure to the bank is going into liquidation CORRECTION:My Complaint to the PUBLIC PROTECTOR is NOT against AGA but against the DMR for having what I would call a CORRUPT RELATIONSHIP with AGA by failing to DIRECT AGA to COMPLY with the CONDITIONS of its MINING RIGHTS by DIRECTING AGA to PAYBACK over R500m to MINEWORKERS.
Source: City_Press - 🏆 7. / 72 Read more »