Regulator bans VBS broker from operating
Man who arranged coffee shop loan for justice minister ‘lacks honesty and integrity’
16 October 2024 - 11:09
UPDATED 16 October 2024 - 17:04
The former head of Gundo Wealth Solutions, Ralliom Razwinane, who provided a loan to justice minister Thembi Simelane and solicited investments for the collapsed VBS Mutual Bank, has been barred from operating in the financial services sector.
The Financial Sector Conduct Authority (FSCA) found Razwinane and Gundo to have demonstrated a lack of honesty and integrity, and imposed an administrative penalty of R3m on Razwinane and debarred him for 10 years...
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