- Advocate Barry Roux tweeted a video showing the suffering of people who allegedly bank with VBS bank
- Tweeps were quick to voice their opinions.
- VBS was placed under the curatorship by the Reserve Bank earlier this year
Advocate Barry Roux recently tweeted a video clip showing hardship and sadness. The video was captioned… “This is how people who bank with VBS mutual bank are suffering for their money while someone is out there buying cars with their money.”
Tweeps responded voicing agreement for his sentiment and their own opinions.
There has been tremendous controversy around the bank in the past. Briefly.co.za featured an article on the lavish life of VBS boss Robert Madzonga who is alleged to have stated that he is among the first blacks who bought Lamborghinis.
Khosi Madzonga's social media accounts showed off the high life she and her husband, the CEO to the bank's majority shareholder company, Vele Investment, have been living. However, the pics in which she gushed about all their luxuries has since been removed from her accounts following the controversies that surrounds VBS.
Constantly surrounded by controversy, the bank was also in the news after billions of depositors' money disappeared. https://briefly.co.za/13400-how-vbs-mutual-bank-looted-r15-billion-by-a-king-executives.html#13400 Millions of rands was allegedly used to fund the lavish lifestyles of king Ramabulana and other executives.
A large part of this money went to funding the luxurious lifestyles of Vhavenda King Toni Mphephu Ramabulana and other executives. The R1.5 billion was municipal money invested in the bank - now it's gone. Some of the expenses covered for by VBS bank include expensive shopping sprees, private helicopters, loans, and many luxury cars. The Reserve Bank has placed VBS Mutual Bank under curatorship earlier this.
Do you have a story to share with us? Inbox us on our Facebook page and we could feature your story.
Ah, African proverbs. Such a vast selection of meanings. A wonderful cultural study. Many of us were taught proverbs before we could even talk properly. Which basically means our elders, parents, uncles and aunties are always finding ways to scold us with a suitable proverb. Some are hilarious and witty, some are more cryptic. All of them remain relevant today and teach us about our heritage. Today, we’ll Explore the Meaning of Unique African Proverbs.