vbs bank LIMPOPO

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Who looted VBS Mutual Bank? The figures implicated in ‘the great bank heist’ have been revealed

These are the names of those who may have to answer for their involvement in looting VBS Mutual Bank.

vbs bank LIMPOPO

Image via Twitter

Advocate Terry Motau is the forensic investigator who told all in a report titled The Great Bank Heist. His view, after detailing the extent of the corruption and looting that took place at VBS Mutual Bank, is that the bank can’t be saved – it is too deep in rot for anyone to salvage it.

UDM condemns VBS Mutual Bank execs and demands swift action from Ramaphosa

Furthermore, IOL News reported that

Advocate Terry Motau in his final report said that an amount of R1.8 billion was gratuitously received from VBS by some 53 persons over the period 1 March 2015 to 17 June 2018.

The United Democratic Movement (UDM) has since released a statement, urging President Cyril Ramaphosa to take swift action against those who have been implicated in the ‘great bank heist’.

President Ramaphosa must immediately appoint a task team to make sure that the people who were fingered by advocate Terry Motau in his report are held responsible for their misdeeds.

Each and every person must be brought under the search light, especially those in the employ of the Public Investment Corporation. The PIC seems to be sinking deeper and deeper in the quagmire of corruption.

The party has stressed that the Motau’s report will remain nothing but pieces of paper until the president heeds these calls.

Exposed: The figures identified as VBS looters

This is the full list of people Motau has identified as having benefited illegally in the looting of VBS.

  1. Vele Investments and associates = +R936-million
  2. Tshifhiwa Matodzi = R325-million
  3. Free State Development Corporation = R104-million
  4. Kabelo Matsepe = R35-million
  5. Sipho Malaba = R34-million
  6. Phophi Mukhodobwane = R30-million
  7. Paul Makhavu = R30-million
  8. Robert Madzonga = R30-million
  9. Andile Ramavhunga = R28-million
  10. Solly Maposa = R24-million
  11. Ralliom Razwinane = R24-million
  12. Firmanox = R17.4-million
  13. The Venda king, Toni Mphephu = R17.7-million
  14. Ndivhuwo Khangale = R16.8-million
  15. Sechaba Serote = R16.6-million
  16. Ernest Nesane = R16.6-million
  17. Brian Shivambu = R16-million
  18. Foxburgh = R15-million
  19. Paul Magula =  R14.8-million
  20. Charl Cilliers = R12.6-million
  21. Tiisang Private Capital = R12-million
  22. Maanda Manyatshe = R11-million
  23. Sasa Nemabubuni = R9-million
  24. Sabicorp = R8-million
  25. Avashoni Ramikosi = R5.9-million
  26. Takalani Mmbi = R4-million
  27. Phillip Tshililo = R2-million