SA’s elite crime-fighting unit, the Hawks, have made the first arrests in connection with the collapse of VBS Mutual Bank after almost two years of investigating one of the country’s biggest banking scandals.

VBS Mutual Bank collapsed amid allegations that its executives looted almost R2bn they were supposed to be looking after on behalf of municipalities, stokvels and elderly people in Limpopo. Investigative journalism unit amaBhungane reported that the bank’s top executives were among those arrested...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now