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VBS Mutual Bank can now seize former president Jacob Zuma’s cattle, furniture and other realisable assets to repay his R6.5-million loan for his homestead at Nkandla in KwaZulu-Natal. This on the back of an order in VBS’ favour by the High Court in Pietermaritzburg, delivered on Tuesday.
The lifestyle and political aspirations of EFF president Julius Malema were also funded from the R16m robbed from VBS Mutual Bank. Scorpio’s investigation into the bank statements of VBS-beneficiary and slush fund Mahuna Investments show how the life savings of the poor and vulnerable VBS-dep...
A company inextricably linked to the Brothers Shivambu benefited from a questionable R4-million VBS Mutual Bank business loan. Before the bank was put under curatorship, VBS managed to advance about R2.1-million towards the intended business – a wine bar and restaurant in Vilakazi Street, Sow...
The VBS pre-trial where 14 people are accused of racketeering, money laundering, theft and fraud, has been postponed to January. The VBS pre-trial where 14 people are accused of racketeering, money laundering, theft and fraud, has been postponed to January.
The EFF leaders each received millions through a money laundering scheme – funds they used to prop up their glitzy lifestyles, their families, their businesses and their political aspirations.