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South Africa: How VBS Mutual Bank monsters ate the poor

South Africa: How VBS Mutual Bank monsters ate the poor

Africa Links 24 with Neesa Moodley, Lerato Mutsila, Rudzani Tshivhase and Queenin Masuabi
Published on 2024-07-20 18:44:37

A money trail that leads to senior bank management, high-ranking politicians in three different political parties, municipal officials and auditors was laid bare in the shocking affidavit made by former VBS Mutual Bank chairperson Tshifhiwa Matodzi.

Matodzi’s affidavit made headlines on Thursday, 11 July – a day after he started serving his prison sentence, having pleaded guilty to 33 counts of fraud, theft, money laundering and racketeering.

He was sentenced to 15 years on each…

Read the Full article on Daily Maverick

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