Hawks have arrested top officials of VBS mutual bank believed to be involved in the looting and money laundering in the bank.
VBS Mutual Bank collapsed after it was looted of over R2-Billion, Hawks head Lieutenant general Godfrey Lebeya said they have conducted multiple search and seizure operation in 10 premises in Gauteng and the Limpopo province, and Four suspects have been arrested, three suspects are expected to hand themselves in, meanwhile another suspect has been affected by the Covid-19 quarantine period requirements and will be secured after the procedure.
Those arrested include former VBS and Vele investments chairperson Tshifhiwa Matodzi the alleged to be the kingpin behind the heist, former board members, and senior KPMG auditors were also arrested and charged with money laundering amongst other charges.
Lebeya have cleared the allegations that the chairman and the CEO signed the director’s responsibility statement to the financial statement that was prepared by the chief financial officers of VBS, the investigation has revealed that the 8 men, who are the suspects, directly or indirectly benefited at least R122,287 863 which was not true, but has clarified that their investigation has revealed that 20 municipalities deposited over R20-Billion to VBS but only got R2.2-Billion back.
The NPA is putting together strategic responses to ensure that dilatory tactics are opposed and bail regards, The suspects have appeared in Palm Ridge Magistrates Court on Thursday 18 June 2020.