CAPE TOWN - The Democratic Alliance (DA) Shadow Minister of Cooperative Governance and Traditional Affairs, Kevin Mileham MP, and the DA National Spokesperson, Solly Malatsi MP, will lay criminal charges on Thursday against the 50 individuals who allegedly syphoned billions from VBS Mutual Bank.
The charges follow the damning forensic report, “VBS Mutual Bank - The Great Bank Heist”, which was released by the South African Reserve Bank (SARB) on Wednesday.
The report named more than 50 individuals who allegedly looted the bank for their own personal financial gains and recommended that criminal charges be brought against them.
The DA said that some of these individuals have close ties with political parties such as the ANC and the EFF and no doubt shamelessly abused their political connections to steal from the poor.
"The VBS scandal has already put numerous municipalities at risk of losing revenue. Worst of all this heist has left countless poor South Africans stranded as they struggle to gain access to their life-savings", the statement said.