Court orders VBS liquidation

JOHANNESBURG - The North Gauteng High Court ordered the final liquidation of VBS Mutual Bank on Tuesday.

The Reserve Bank applied to the court to liquidate the bank following the Great Bank Heist” report.

READ: Accountants implicated in VBS scandal fail to appear at hearing

The report revealed that at least R1.9-billion had been looted from the bank, mostly by politicians.

The Democratic Alliance has called on the public protector to investigate all mayors implicated in the looting.

It wants lifestyle audits to be conducted on every person mentioned in the scandal.