Prasa employee hailed for her role in saving R1bn from VBS bank heist
The South African Transport and Allied Workers Union (SATAWU) as well as the Passenger Rail Agency of South Africa (PRASA) have been implicated in the report on the failure of VBS Mutual Bank, titled “The Great Bank Heist”, that was published on Wednesday.
The report was conducted at the behest of the Reserve Bank by advocate Terry Motau with the assistance of Werksman’s Attorneys. It stated that “VBS went on a concerted and deliberate campaign to attract very substantial deposits from municipalities” and “state entities such as PRASA by the payment of so-called ‘commissions’ in order to solicit such deposits.”
Statement by Brian Shivambu on the VBS allegations: “Sgameka projects doesn’t have any working relationship with VBS & has never received payment from VBS. SA’s law does not permit anyone to be put into trial, &convict them without granting them the right to state their version”.
Sad part is that they went through the homelands days with the bank, many were able to build homes for themselves through the bank, only for it to collapse now when it was supposed to be thriving, I am so ashamed...