DA shadow minister of Co-operative Governance and Traditional Affairs, Kevin Mileham, and National Spokesperson, Solly Malatsi, speak to media after laying the charges.
DA shadow minister of Co-operative Governance and Traditional Affairs, Kevin Mileham, and National Spokesperson, Solly Malatsi, speak to media after laying the charges.
DA shadow minister of Co-operative Governance and Traditional Affairs, Kevin Mileham, and National Spokesperson, Solly Malatsi, lay charges ta the Cape Town police station.
DA shadow minister of Co-operative Governance and Traditional Affairs, Kevin Mileham, and National Spokesperson, Solly Malatsi, lay charges ta the Cape Town police station.
DA National Spokesperson, Solly Malatsi, and shadow minister of Co-operative Governance and Traditional Affairs, Kevin Mileham, lay charges at Cape Town Central police station.
DA National Spokesperson, Solly Malatsi, and shadow minister of Co-operative Governance and Traditional Affairs, Kevin Mileham, lay charges at Cape Town Central police station.

Cape Town - The DA have laid criminal charges against the 50 people who allegedly siphoned billions from VBS Mutual Bank on Thursday.

On Wednesday, the South African Reserve Bank released a damning forensic report titled “VBS Mutual Bank - The Great Bank Heist” and recommended that criminal charges be brought against those who have been implicated. The report identified individuals with close ties to political parties.

DA Shadow Minister of Co-operative Governance and Traditional Affairs, Kevin Mileham, and National Spokesperson, Solly Malatsi, laid the charges at Cape Town Central police station today. "We laid charges of corruption, racketeering and fraud against these individuals because we believe that those who are responsible for looting the bank, taking money from municipalities and poor investors, must be held accountable," said Mileham.



"The DA is of the view politicians and those close to politicians, such as Floyd and Brian Shivambu, and the ANC Limpopo Treasurer, Danny Msiza, should not only be investigated for their personal involvement but that the parties they are associated with publicly confirm whether or not they have received funds from VBS," he said.

EFF Chairperson, Dali Mpofu, has said the EFF received no money from VBS through Brian Shivambu.

Meanwhile the IFP called on government’s Anti-Corruption Task Team to investigate all officials and members of the ANC and EFF implicated in the VBS forensic report. 

"The obvious lapses are evident," the party said in a statement. "There were no controls, no adherence to regulations and an organised syndicate was at play. We call for the task team to follow the money post leaving VBS."

The IFP demanded that the ANC in Limpopo be investigated and that all municipal managers of municipalities who made deposits to VBS be investigated for contravening the Municipal Finance Management Act. 

The party also raised concerns over a VBS loan to fund the bond costs of former President Jacob Zuma's Nkandla residence. "This transaction is now questionable and must also be investigated," the party said.