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Thread: VBS Mutual Bank being victimised - EFF

  1. #256
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    Quote Originally Posted by Gordon_R View Post
    A deposit insurance scheme was proposed in 2017: https://www.fin24.com/Companies/Fina...risis-20170601

    Any news on whether this was enacted, or is the SARB doing the VBS depositor bailout from goodwill?
    This is still in discussion - however, the amount of R100 000 per retail depositor is what was recommended in the proposal.

  2. #257
    Super Grandmaster ToxicBunny's Avatar
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    Quote Originally Posted by TysonRoux View Post
    How will this impact property owners, should they expect a few back to back valuation adjustments and rates increases in these municipalities?
    More than likely.. pricing will be increased to try plug the gap that these idiots have created.
    Quote Originally Posted by MidnightWizard View Post
    I must be retarded then

  3. #258
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    So, a Gupta bank on top of everything else, not really surprising
    The VBS Mutual Bank saga took another twist on Monday when it emerged that the newspaper business of staunch Jacob Zuma supporter Mzwanele Manyi, which he bought from the Gupta family, banked with the lender that failed due to alleged fraud by its directors.
    In court papers asking for TNA Media to be urgently placed under provisional liquidation, Manyi said the company’s operational bank accounts were held with VBS, which was placed under curatorship in March, and the freezing of all its operation’s accounts by the bank had "severely affected" the business.
    X

  4. #259
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    Jimmy.. Even though you banked at vbs, you had no business to affect when they suspended the accounts...
    Quote Originally Posted by MidnightWizard View Post
    I must be retarded then

  5. #260
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    VBS CEO: I knew, heard nothing

    The former CEO of VBS Mutual Bank claims he knows nothing about the epic amount of fraud that allegedly sucked R1.5 billion out of the bank he ran.

    Andile Ramavhunga this week filed a responding affidavit in VBS curator Anoosh Rooplal’s application to sequestrate him and the other directors of VBS, and liquidate its majority shareholder, Vele Investments.

    He does not confirm or deny that the fraud happened at the bank he ran, but simply says that no one told him about it.

    He says he was not present at the meetings where the fraud was allegedly orchestrated by Tshifhiwa Matodzi, the chairperson of the bank and Vele Investments.

    According to his affidavit, a number of VBS bosses met at the Sundowner Bar in Randburg on March 11 – the day after VBS went into curatorship.
    More at: https://www.fin24.com/Companies/Fina...ing-20180722-2
    My views are not cast in stone

  6. #261
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    "Economic Transformation"
    “If you end up with a boring miserable life because you listened to everyone else telling you how to do your ****, then you deserve it.” - Frank Zappa

  7. #262
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    He does not confirm or deny that the fraud happened at the bank he ran, but simply says that no one told him about it.
    Hey boss, I just stole another half million to remodel my house, and paid off Zupta's Nkandla "loan".

    Fool doesn't even grasp how stupid his defence makes him look.
    Last edited by TysonRoux; 13-06-2010 at 07:00 PM.

  8. #263
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    “If you end up with a boring miserable life because you listened to everyone else telling you how to do your ****, then you deserve it.” - Frank Zappa

  9. #264
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    wow. so he claims he is completely incompetent. did he lie his way into that position, more fraud. lol

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