PARLIAMENT – Advocate Terry Motau warned on Wednesday that recovering money lost to fraud at VBS Mutual Bank would be a long process with limited success.
"I'm not optimistic that we will recover a huge amount. If I were a betting man, I would say we would get 20c to 30c in the rand," Motau told Parliament's standing committee on finance.
He added that what he has termed the heist of VBS by corrupt directors was "not a victimless crime" because of the likelihood that it would take years to recover funds and not all depositors would be repaid in full.
"There are at least 3 percent of depositors we will not be able to fully refund."
He said their deposits totalled "a rough figure of R90 million".