VBS Bank

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Justice Minister denies allegations and faces calls for suspension amid VBS loan scandal

By Lee-Yandra Paulsen Minister of Justice and Correctional Services, Thembi Simelane, has denied most allegations involving her connection with Gundo Wealth Solutions, asserting that her interactions were legitimate and that the loan she secured had been repaid. Despite her denials, calls for her resignation are growing amid concerns that her presence could impede the National Prosecuting Authority’s (NPA) handling of the VBS Bank scandal. Speaking on VOC NewsBeat, legal expert […]

today11 September 2024

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The VBS Mutual Bank scandal: unveiling years of fraud

By Lee-Yandra Paulsen The Venda Building Society (VBS) Mutual Bank scandal continues to dominate headlines, with recent revelations bringing renewed scrutiny to the case. Tshifhiwa Matodzi, former chairperson of the now-defunct VBS Mutual Bank, has confessed to channelling funds through his family, adding new layers to the saga of corruption and fraud that has gripped South Africa. According to reports, Matodzi was the chairperson of VBS Mutual Bank, which collapsed […]

today17 July 2024

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ANC vows not to side with party members implicated in VBS scandal

The African National Congress (ANC) in Limpopo has made it clear that it will not side with the officials, current and former, who have been arrested for their alleged involvement in the VBS Mutual Bank scandal. It’s reported, however, that the accused allegedly got away with a fraction of the more than R 2. 4 billion taken from the bank. Senior suspended ANC Limpopo Treasurer, Danny Msiza, named as the […]

today19 June 2020

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