Last chance for municipalities to claim VBS millions
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Johannesburg- Municipalities, businesses and shareholders owed by the now defunct VBS Mutual Bank have until two weeks to lodge their valid claims in the doomed financial institution.
VBS liquidator Anoosh Rooplal has told its creditors, who include municipalities, suppliers, retailers, businesses and permanent shareholders, that they have until May 21 to lodge their valid claims.
However, Rooplal also warned that there is no certainty that claims will be accepted by the Master of the High Court or that any amount of their claims will eventually be made available.
He said the claim merely proves who VBS’s legal claimants are.
The NEC resolved to implement the party’s 2017 Nasrec conference resolution.
While the list will be finalised today, these are some of ANC’s bigwigs facing the reality of being forced to step aside:
Ace Magashule
Magashule is among several ANC leaders affected by the resolution. He faces 21 charges of fraud and corruption related to his tenure as Free State premier over a R250 million Free State asbestos contract.
The ANC secretary-general said he would use the 30-day period to consult with former party leaders, including former presidents Jacob Zuma and Thabo Mbeki.
Zandile Gumede
eThekwini mayor, Zandile Gumede and 21 others – including city manager Sipho Nzuza, ANC councillor Mondli Mthembu – face more than 2,000 counts of fraud, corruption and money laundering linked to an eThekwini municipality contract amounting to R430 million.
Pauli van Wyk: Alleged ringleaders of VBS looting caught
15 March 2021 10:58 AM
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The investigative journalist says businesspeople, chartered accountants, and lawyers, worked in a concerted effort to loot bank.
Venda Building Society (VBS) collapsed in 2018 after systematic looting, and as recently as last week, authorities were still making arrests in connection with the crimes committed.
with the array of crimes linked to the stripping of the VBS Mutual Bank.
Seven more men and a woman were arrested on Thursday, and include ANC Limpopo leader Danny Msiza, ANC linked âbusinessmanâ Kabelo Matsepe, pastor and former COO of VBS Robert Madzonga, a senior VBS bank manager, and three fixers , says Refilwe Moloto.
Two municipal officials amongst 17 charged in VBS fraud, theft & corruption case ewn.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ewn.co.za Daily Mail and Mail on Sunday newspapers.
In a 206-page indictment detailing the 2018 implosion of VBS Mutual Bank, 14 men are now charged with a total of 188 counts of theft, fraud, money laundering, corruption, racketeering and contraventions of provisions in the Prevention of Organised Crime Act (Poca) and the Prevention and Combating of Corrupt Activities Act (Precca). These alleged crimes relate to the looting and subsequent implosion of VBS Mutual Bank between 2015 and March 2018.
The latest arrest comes about nine months after the first group of seven accused pleaded not guilty to the crimes against VBS. Former CFO Philip Truter was the only defendant to plead guilty in a plea bargain that offered him lesser jail time in exchange for turning state witness.