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BREAKING NEWS – DA intends charges against alleged VBS50


Democratic Alliance (DA) Shadow Minister of Cooperative Governance and Traditional Affairs and Parliamentarian Kevin Mileham and DA National Spokesperson and Parliamentarian Solly Malatsi intend to lay criminal charges against the 50 individuals seen to have allegedly syphoned billions from VBS Mutual Bank with the Police in Cape Town at lunchtime today (Thursday).
In a media release DA national press officer Marshallé Fredericks referred to the charges following the damning forensic report titled “VBS Mutual Bank – The Great Bank Heist”, which was released by the South African Reserve Bank (SARB) yesterday (Wednesday). The report named more than 50 individuals who allegedly looted the bank for their own personal financial gains and recommended that criminal charges be brought against them.
“Some of the individuals had close ties with political parties such as the ANC and the EFF and no doubt shamelessly abused their political connections to steal from the poor,” it was further stated.
“The VBS scandal has already put numerous municipalities at risk of losing revenue. Worst of all this heist has left countless poor South Africans stranded as they struggle to gain access to their life-savings.
“The DA is of the view that all those who have been implicated in the looting of VBS Mutual Bank must be investigated to the fullest extent of the law.”