Toni Mphephu Ramabulana, the king of Venda struggles to survive after an appeal court case that ordered him to repay R17 million to VBS he had previously received from the bankers.
King Ramabulana and about 50 shareholders businessmen, politicians, and traditional leaders are accused of enjoying unauthorized benefits from the bankrupt VBS Bank.
The VMS has collapsed after an election of more than R2 billion has been realized, much of which was caused by “illegal payouts” to various institutions and individuals.
One of the alleged “gratuity payments” is apparently the R17m paid to the Venda king and is now repayable.
Read the original article in Afrikaans on Die Vryburger
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