Michael Avery speaks to author and one of the journalists who first broke the story, Dewald van Rensburg, about VBS Mutual Bank’s collapse
13 November 2020 - 15:24
byBusiness Day TV
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VBS: A Dream Defrauded unravels the alleged fraud, exploring how suspected mastermind Tshifhiwa Matodzi and his associates first took control of VBS Mutual Bank, fed ANC patronage networks, and operated under a nationalist mantle endorsed by Venda royalty.
The book explains how the bank and its shareholder Vele Investments were seemingly built into a multi-billion-rand business; exposes the political machinations that guaranteed VBS up to R3.5bn in unlawful funding from municipalities and other state institutions; and describes the free-for-all that ensued after the bank’s collapse, when all involved tried to cover their tracks.
Michael Avery speaks to author and one of the journalists who first broke the story, Dewald van Rensburg, now with Amabhungane.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
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WATCH: VBS: A Dream Defrauded
Michael Avery speaks to author and one of the journalists who first broke the story, Dewald van Rensburg, about VBS Mutual Bank’s collapse
VBS: A Dream Defrauded unravels the alleged fraud, exploring how suspected mastermind Tshifhiwa Matodzi and his associates first took control of VBS Mutual Bank, fed ANC patronage networks, and operated under a nationalist mantle endorsed by Venda royalty.
The book explains how the bank and its shareholder Vele Investments were seemingly built into a multi-billion-rand business; exposes the political machinations that guaranteed VBS up to R3.5bn in unlawful funding from municipalities and other state institutions; and describes the free-for-all that ensued after the bank’s collapse, when all involved tried to cover their tracks.
Michael Avery speaks to author and one of the journalists who first broke the story, Dewald van Rensburg, now with Amabhungane.
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