JOHN DLUDLU: Did the authorities learn nothing from the collapse of African Bank?
A while back a friend and I were having a catch-up session in Rosebank, when in walked a familiar figure in shorts. My mind couldn’t immediately place him, but my friend, who had only recently left journalism, recognised him as none other than Leon Kirkinis, who presided over the collapse of African Bank. We wondered why he wasn’t in jail or, at least, being prosecuted. Of course! The Myburgh report was sent to the national prosecuting authority (NPA), which has been giving cast-iron excuses for inaction. The bank was rescued, at a cost. Disclosure: this columnist’s modest portfolio suffered. This came to mind as I was rereading advocate Terry Motau’s “The Great Bank Heist” report on the brazen looting of VBS Mutual Bank, and considering the debates that have ensued. Motau has done 90% of the job for the law-enforcement agencies, especially the NPA, SA Revenue Service (Sars) and the Asset Forfeiture Unit, which now have to move with speed to prosecute those he has fingered. After tw...
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