The Hawks have begun their investigations into the VBS scandal. It follows the released of a report on how almost R2-billion was looted from the bank.
Continue reading…
The VBS scandal – Hawks say arrests are imminent, really, or will this also be swept under the rug!
Posted on Leave a comment
Interesting news:- ANC top brass meets Limpopo leaders over VBS ‘heist’, who’s going to blame who!
Posted on Leave a comment
ANC officials from Limpopo are expected to meet with the leadership of the party at Luthuli House on Monday to discuss the matter.
Continue reading…
The ‘bad mix’ of the VBS Sage:- PIC, VBS, Floyd and his baby brother
Posted on Leave a comment
Screenshots of text messages purporting to be a conversation between Floyd Shivambu and a businessperson with questionable links to the Public Investment Corporation (PIC) suggests a direct link between the Economic Freedom Fighters (EFF) deputy president and his brother Brian’s business.
Continue reading…
Basa: Nhlanhla Nene fears worsening ‘jittery’ markets
Posted on Leave a comment
Uncertainty over the future of Finance Minister Nhlanhla Nene is leaving markets jittery, in a development the Banking Association of South Africa (Basa) has described as “unfortunate”.
Continue reading…
Fraud and theft behind SAA bankruptcy – SAA’s debt is currently R15 billion more than its assets, and banks will no longer lend the airline any money
Posted on Leave a comment
While the airline is required to present its financials by the end of the month, it cannot do so as it’s technically bankrupt. A report in The City Press on Sunday documents the massive financial problems of state-owned airline South African Airways (SAA). According to the report, SAA’s debt is currently R15 billion more than..
Continue reading…
Following the Zondo Commission so far, The Reserve Bank warns of ‘catastrophic’ impact if banks kept Gupta accounts open
Posted on Leave a comment
South Africa’s “big four” banks could have been locked out of the international payments system with “absolutely catastrophic” results if they had kept the Gupta family’s bank accounts open in 2016, according to South African Reserve Bank deputy governor Kuben Naidoo.
Continue reading…
Neo Mongwaketse, Absa Manager: “Your white shit arrogance lead to that torture and for white like you, I feel no pity”
Posted on Leave a comment
Double standards at its best in South-Africa. It seems that only a certain race has the privilege to freedom of speech, hate speech and racism, but if you are white you go to jail for the K word they hate so much.
Continue reading…
Three of the VBS execs provisionally sequestrated, Vele liquidated
Posted on Leave a comment
Provisional sequestration orders have been granted against three businessmen in the VBS Mutual Bank fraud saga.
Vele Investments, VBS’s main shareholder, has also been liquidated.
Continue reading…
VBS chair, Tshifhiwa Matodzi, family trust implicated in bank’s looting
Posted on Leave a comment
The family trust of former VBS Mutual Bank chairperson Tshifhiwa Matodzi was allegedly paid nearly R5-million from Vele Investments’ heist of money from VBS Mutual Bank.
Continue reading…
ANC bash caught up in VBS Mutual Bank’s web
Posted on Leave a comment
The ANC may be entangled in alleged fraudulent transactions involving embattled VBS Mutual Bank. These details have emerged from the ongoing investigation into the bank’s collapse, contained in civil claims launched by VBS curator Anoosh Rooplal against VBS shareholder Vele Investments and former bank officials.
Continue reading…