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8 New Arrests In VBS Looting

It has probably been a while since you heard about anything to do with looted bank VBS Mutual. So, you may be pleasantly surprised to hear that the Hawks have conducted more raids and arrested more people who it appears were involved. 

[For Details On What Happened At VBS Read This Article]


New Arrests

A further 8 people were rounded up (or turned themselves in) in an operation this week. The 8 people who were arrested are now going to appear in court over charges of fraud, theft, corruption, money laundering and racketeering.

Included in the seven may be ANC Treasurer for Limpopo, Mr Danny Msiza and former Youth League leader Kabelo Matsepe.

Many of those arrested in this round of legal action now appears to be of those who helped facilitate the wrongdoings at the bank and linked municipal investments to the bank (which was not meant to happen).

What’s Happening With Those Already Arrested?

The case against the previous 7 people arrested, over the looting at the bank, was delayed in January of this year and will continue at a later stage once additional charges have been brought against them resulting from further investigations.

[Read About Those Arrests Here]


Debtfree will continue to follow this story as it unfolds.