VBS looting: 33 arrested, 43 under investigation

The Directorate for Priority Crime Investigation, the Hawks, revealed yesterday that since the VBS debacle in 2018, 33 individuals have been arrested in connection with the looting and collapse of VBS Mutual Bank and 43 others are still being investigated.

Many people in Limpopo are asking why ANC Limpopo deputy chair Florence Radzilani, whose Vembe district municipality topped 14 others in Limpopo, North West and Gauteng with over R300 million irregularly invested with the bank, is not facing justice.

Contravention of the Municipal Finance Management Act

Radzilani and others are alleged to have contravened of the Municipal Finance Management Act.

This after her former council in the Vhembe district municipality allegedly invested over R300 million with VBS Mutual Bank against Treasury regulations.

She is also alleged to have taken a bribe, dubbed “Christmas”, from the bank directors.

The bribe allegations have not been tested in a court of law.

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The Hawks said yesterday 33 individuals had been arrested and were appearing in different magistrate’s courts for their alleged involvement in the looting and collapse of VBS Mutual Bank.

“We are also investigating 43 others for the same offence, but I cannot divulge their names,” said Hawks head of communications Thandi Mbambo on Monday.

Pay back R1.9bn stolen from bank

This week the Farisani Tshenuwani Foundation called on the ANC, the EFF and the South African Communist Party (SACP) to pay back R1.9 billion stolen from the bank.

The foundation thanked the EFF for committing to pay back the monies it received and said the ANC and the SACP should follow suit.

“The ANC is the leader of society,” the foundation said.

“The people of Limpopo voted overwhelmingly for the ANC in the May 2024 general election and they are waiting for justice to be served.

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“Many of those who invested with the bank are now chronically sick, while others have died before they get their investments back.

“So, please, pay back the money.”

VBS saga a serious matter

The Limpopo ANC said the VBS saga was a serious matter.

“We welcome the conviction and sentencing of former VBS chair Tshifhiwa Matodzi regarding the VBS matter. We also note Matodzi’s affidavit.

“Our position on the VBS matter has not changed.

“We reaffirm our stance that everyone who contributed to the collapse of the bank must face the full might of the law,” said ANC Limpopo provincial secretary Reuben Madadzhe.

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