Seven suspects set to appear in court for R3bn VBS looting

Eight people have been arrested and are facing 47 charges for the theft of over R120-million. The Hawks and the NPA have been circling high-profile suspects for the last two years in connection with the looting at VBS Mutual Bank. Courtesy #DStv403

JOHANNESBURG - Eight people have been arrested and are facing 47 charges for the theft of over R120-million.

The Hawks and the NPA have been circling high-profile suspects for the last two years in connection with the looting at VBS Mutual Bank.

“The scam was hatched on 4 July 2017 when the board of directors approved financial statements for the year ending 31 March 2017, making VBS look richer, while it was in fact insolvent. The financial statements were shockingly inflated,” said Hawks head, General Godfrey Lebeya.

The arrests relate to R122-million stolen, just a fraction of the R3-billion siphoned from the bank.

WATCH: NPA, Hawks give update on high-profile cases

The Hawks head says more arrests will follow.

The NPA says it’s ready to resist any attempt to delay the prosecution of the suspects.

“What we have found in a number of high profile cases, is that there is a strategy to delay matters and to deal with a number of interlocutory applications and so the prosecution can’t really control that but we have decided as the NPA that we are going to take a much more vigorous stance with regards to these dilatory tactics," said NPA head, Shamila Batohi.

Seven suspects are expected to appear in the high court sitting at the Palm Ridge Magistrate's Court in Johannesburg on Thursday.

Source
eNCA

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