Jul 10, 2024 · The man described as the kingpin behind the brazen looting of more than R1.9 billion from the VBS Mutual Bank has pleaded guilty to 33 charges including theft, fraud, money laundering and racketeering.

Feb 3, 2024 · By November last year, 32 people had been arrested for their part in the VBS Mutual Bank scandal in which SA citizens and taxpayers were defrauded of about R2bn. But few people have been sentenced,...

A 2018 report released by the SARB in October found evidence of wide-scale looting, fraud and corruption. [4] It recommended that bank leadership, public officials and auditors be criminally charged and held liable in civil proceedings. [14]

Oct 10, 2018 · A final investigation report into large-scale fraud at VBS Mutual Bank has recommended that more than 50 individuals be criminally charged and held liable in civil proceedings, following the bank's implosion earlier this year.

Jul 10, 2024 · Tshifhiwa Matodzi was the chairperson of VBS Mutual Bank, which collapsed in 2018 after being looted for years. The scam stretched from impoverished rural villages all the way to government...

The National Treasury welcomes the conviction and sentencing of Mr Tshifhiwa Matodzi, former Chairperson of VBS Mutual Bank, and kingpin behind the looting of funds, for his role in its collapse.

Jul 12, 2024 · Former chairman of the Venda Building Society (VBS) Mutual Bank Tshifhiwa Matodzi has alleged that Economic Freedom Fighters (EFF) leaders Julius Malema and Floyd Shivambu looted R16.1m from the...

Mar 12, 2021 · Seven people, arrested in connection with VBS Mutual Bank looting allegations, have been granted bail of between R50 000 and R100 000. The men appeared in the Specialised Commercial Crimes Court in Palm Ridge on Friday and will join the other seven accused who were arrested in June last year.

Jul 10, 2024 · Tshifhiwa Matodzi, the former VBS chairperson and mastermind behind the looting of R2 billion of defunct VBS Mutual Bank, has been sentenced to 495 years of direct imprisonment. Matodzi, 47,...

Jul 12, 2024 · Former chairperson of the now-defunct VBS Mutual Bank board Tshifhiwa Matodzi will spend 15 years behind bars. From issuing instructions without authority to promoting unlawful activities in...