Municipalities, the South African Reserve Bank and the Public Investment Corporation are among the institutions that have successfully lodged claims against the ill-fated VBS Mutual Bank, its liquidator Anoosh Rooplal said on Sunday.
VBS bank is at the centre of a corruption scandal that saw an estimated R2.7bn looted from the institution, according to his latest estimate. The bank was placed under curatorship last March following a liquidity crisis. More than 50 individuals have been implicated in the scandal, and the Special Investigating Unit is probing why more than a dozen municipalities invested in the Limpopo-based bank in contravention of an instruction from Treasury...
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