Hawks make first arrests in swoop after collapse of VBS Mutual Bank
Four were arrested, three were expected to hand themselves over, while an eighth suspect is in quarantine due to Covid-19
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...