Picture: Nhlanhla Phillips/African News Agency (ANA)
Picture: Nhlanhla Phillips/African News Agency (ANA)

ANC to refer members implicated in #VBSBankHeist to integrity commission

By ANA Reporter Time of article published Oct 13, 2018

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Johannesburg - The office of the secretary general of the African National Congress (ANC) on Saturday said it had referred cases of leaders or members implicated in the VBS bank scandal to the party's Integrity Commission.

In a statement, the ANC said that in line with the ANC's 54th Conference resolutions, it has written to the chairperson of the party's Integrity Commission, George Mashamba, referring the VBS report to the Commission.  

"The Integrity Commission will meet next week to consider the report and the cases of leaders and members implicated and/or accused of wrongdoing in the report," the statement said. 

"The Officials of the ANC will also meet with the Officials of Limpopo, to discuss the response of the province to the serious allegations raised in the report.

Read the full report here:

"These actions are in line with the restoration and enhancement of the values and integrity of the ANC, which our Strategy and Tactics (2017) calls for. It also reflects the determination of ANC Officials, as discussed at their recent lekgotla, to lead the process of renewal and unity of the ANC."

An independent report commissioned by the SA Reserve Bank to probe the collapse of the mutual bank found that there was "wide scale looting and pillaging of the monies placed on deposit at VBS". 

The monies were clients' life savings and deposits, including millions of rands deposited by municipalities.

The report, titled "The Great Bank Heist" showed that at least 50 people "gratuitously" received R1.894 billion from the bank over a three-year period starting in March 2015. 

They included top management at the bank's major shareholder Vele Investments, its associates who cashed in more than R936 million. Others also included bank executives and Limpopo politicians.

* Read more on the #VBSBankHeist here.

African News Agency (ANA)

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