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SOUTH AFRICAN POLICE MAKE ARRESTS OVER NOTORIUS BANK CORRUPTION SCANDAL  

A number of people have been arrested by police investigating one of South Africa’s most notorious corruption scandals, the looting and collapse of VBS Mutual Bank.

VBS, which held the savings of many disadvantaged people and local municipalities, collapsed with more than £100m in debts in 2018. Much of the money had been siphoned into private bank accounts and some spent on property or luxury cars, investigators found. Read more HERE

A number of people have been arrested by police investigating one of South Africa’s most notorious corruption scandals, the looting and collapse of VBS Mutual Bank.

VBS, which held the savings of many disadvantaged people and local municipalities, collapsed with more than £100m in debts in 2018. Much of the money had been siphoned into private bank accounts and some spent on property or luxury cars, investigators found. Read more HERE

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Published on 18/06/2020 @ 02h29   | |