Business In The News South Africa

SA accountancy institute begins disciplinary hearings against former VBS chairperson, CEO

JOHANNESBURG, November 9  – The South African Institute of Chartered Accountants (SAICA) on Friday begins disciplinary action against two members implicated in the looting of VBS Mutual Bank. VBS Mutual Bank has all but virtually collapsed after its senior executives allegedly used it as a ponzi scheme to enrich themselves and their immediate associates at the […]

Business In The News South Africa

Parliament calls on Hawks, NPA to act against #VBSBankHeist alleged looters

JOHANNESBURG, October 17 – Parliament’s standing committee on finance on Wednesday called on law-enforcement agencies, the Directorate for Priority Crime Investigation (The Hawks) and the National Prosecuting Authority (NPA), to act swiftly and decisively against those alleged to have defrauded the VBS Mutual Bank. A forensic report titled “The Great Bank Heist” by Advocate Terry […]