The High Court in Pietermaritzburg has given a green light to the curators of VBS Mutual Bank to seize former president Jacob Zuma's assets in order to recoup an R6.5 million loan.
The High Court in Pietermaritzburg has given a green light to the curators of VBS Mutual Bank to seize former president Jacob Zuma’s assets in order to recoup an R6.5 million loan.
VBS Mutual Bank can now seize former president Jacob Zuma’s cattle, furniture and other realisable assets to repay his R6.5-million loan for his homestead at Nkandla in KwaZulu-Natal. This on the back of an order in VBS’ favour by the High Court in Pietermaritzburg, delivered on Tuesday.
A former CFO in a Limpopo municipality is expected to appear in court on Friday for his alleged involvement in the irregular and unlawful investment of R120 million in the defunct Venda Building Society (VBS) Mutual Bank.