Independent Online

Monday, August 15, 2022

Like us on FacebookFollow us on TwitterView weather by locationView market indicators

WATCH: These are the people who 'looted' VBS Mutual Bank

The forensic investigator into the collapse of VBS Mutual Bank has recommended that steps be taken to recoup monies lost from a number of people. File Image: IOL

The forensic investigator into the collapse of VBS Mutual Bank has recommended that steps be taken to recoup monies lost from a number of people. File Image: IOL

Published Oct 10, 2018

Share

CAPE TOWN - The forensic investigator who looked into the rot of VBS Mutual Bank has concluded that the rot in the bank ran too deep to salvage it.

Advocate Terry Motau in his final report said that an amount of R1.8 billion was gratuitously received from VBS by some 53 persons over the period 1 March 2015 to 17 June 2018.   

Story continues below Advertisement

WATCH:

The forensic has recommended that steps be taken to recoup monies lost at the bank from the following people:

 

1. Vele and its associates + R936 million

2 Tshifhiwa Matodzi = R325 million.

3 Free State Development Corporation = R104 million.

Story continues below Advertisement

4 Kabelo Matsepe = R35 million.

5 Sipho Malaba R34 million.

6 Phophi Mukhodobwane R30 million.

Story continues below Advertisement

.7 Paul Makhavu = R30 million

8 Robert Madzonga = R30 million.

9 Andile Ramavhunga = R28 million.

Story continues below Advertisement

10 Solly Maposa = R24 million

11 Ralliom Razwinane = R24 million.

2 Firmanox = R17.4 million

13 The Venda king, Toni Mphephu = R17.7 million.

14 Ndivhuwo Khangale = R16.8 million.

15 Sechaba Serote = R16.6 million.

16 Ernest Nesane = R16.6 million

17 Brian Shivambu = R16 million

18 Foxburgh = R15 million.

19 Paul Magula =  R14.8 million.

20 Charl Cilliers = R12.6 million

21 Tiisang Private Capital = R12 million.

22 Maanda Manyatshe = R11 million.

.23 Sasa Nemabubuni = R9 million.

24 Sabicorp = R8 million.

25 Avashoni Ramikosi = R5.9 million.

26 Takalani Mmbi = R4 million.

.27 Phillip Tshililo = R2 million. 

BUSINESS REPORT ONLINE

Related Topics:

Share