Four of five former VBS executives sequestrated
One-time CEO Andile Ramavhunga expected in court on Wednesday to hear outcome of appeal against sequestration order
29 October 2019 - 18:03
The noose is tightening around the erstwhile executives of the defunct VBS Mutual Bank, with the assets of four of its five former senior managers due to be seized to pay back some of the money stolen from the bank.
The applications to sequestrate the executives had its genesis in the large-scale fraud in which about R2bn was stolen from VBS Mutual Bank, which is now being liquidated. ..
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