Photo: Twitter
Photo: Twitter
Up to eight people could found themselves in police custody by the end of the day, after five suspects were busted in connection with the VBS Bank collapse earlier this morning. More arrests are expected to take place ‘imminently’ – and one of the accused is a major player in the Limpopo branch of the ANC.
More VBS arrests – with at least one ANC official ‘in handcuffs’
The VBS institution collapsed back in 2018, after its reserves were plundered by greedy executives. Bank officials, prominent politicians, and well-connected business figures all profited from the ‘billion-rand feeding frenzy’, before the bank crumbled and left thousands of customers in a financial black hole.
In a statement released on Thursday, SAPS confirmed that the arrests took place in Gauteng and Limpopo. The extent of their dealings has not yet been revealed. The police wouldn’t comment on rumours that Danny Msiza or Kabelo Matsepe are amongst the detained eight, but did acknowledge the group faces a combined 188 charges of fraud and corruption:
“Five suspects believed to have had a hand in the VBS looting, were arrested by the DPCI in the early hours of this morning in Gauteng and Limpopo Provinces. Three more suspects will hand themselves over for arrest during the course of today.”
“The suspects, who are believed to have had a hand in the VBS looting, will be answering to charges relating to a combined 188 counts which include theft, fraud, corruption, money laundering and pattern of racketeering activity. A charge of a pattern of racketeering activity is, in essence, organised crime.”
SAPS statement
Bank collapse: Who has been arrested on Thursday?
To summarise, this is what we know so far – more developments will be reported throughout Thursday:
- – Of the five already arrested on Thursday, three ‘senior personnel’ from VBS Bank have been identified.
- – Meanwhile, a ‘significant figure’ in the Limpopo ANC has also been cuffed today.
- – A further three suspects are set to turn themselves over to the police on Thursday afternoon
- – Various reports claim ANC Limpopo Treasurer Danny Msiza and ex-ANCYL leader Kabelo Matsepe will be arrested ‘this week’.
#sapsHQ Five suspects believed to have had a hand in the VBS looting, were arrested by the DPCI in the early hours of this morning in Gauteng and Limpopo Provinces. Three more suspects will hand themselves over for arrest during the course of today. MLhttps://t.co/lY2tF5aguN pic.twitter.com/92ApYXbl8c
— SA Police Service ???????? (@SAPoliceService) March 11, 2021
