Only three municipalities in queue to recoup VBS Mutual Bank millions
Other municipalities have submitted as yet unproven claims after the institution collapsed due to looting
More than a year after the VBS Mutual Bank scandal broke, only three municipalities that had unlawfully deposited money with the bank are stepping forward in the hope to recoup some of it.
They are the West Rand municipality in Gauteng, and Madibeng and Mahikeng municipalities in the North West. A number of other municipalities have submitted as yet unproven claims.