VBSBank execs could have stolen as much as 75% of the bank’s assests

VBSBank execs could have stolen as much as 75% of the bank’s assests

- It was reported that execs from VBS Bank could have stolen as much as 75% of VBS assts

- While actions are underway to recover R1.5bn from Vele Investments, the overall loss could be significantly higher

- Bank governor Lesetja Kganyago stated at a media conference that it is a travesty that the failure of management put so many depositors at risk.

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Execs could have stolen as much as 75% of VBS assets said Bank governor Lesetja Kganyago, at a media conference on the curatorship of VBS.

READ ALSO: Who is David Mantsha the man hired by Jacob Zuma to defend him?

In a report by Business Day, it was revealed that despite curator Anoosh Rooplal’s actions to recover R1.5bn from the bank’s largest shareholder, Vele Investments, understanding the total loss in relation to the bank’s assets is extremely difficult.

"It’s a travesty that the failure of management put so many depositors at risk," said Bank governor Lesetja Kganyago, at a media conference on the curatorship of VBS.

Briefly.co.za recently featured an article on the wife of a central figure in the VBS Bank scandal showing off a flashy lifestyle on social media.

Khosi Madzonga is the attractive young wife of Robert Madzonga - the man now in in hot water over allegedly stealing money from VBS Mutual Bank. Khosi took pleasure in showing off the lavish lifestyle she and Robert has been living.

READ ALSO: Shack building business is booming for kasi folk after land invasions

And in another article, we featured the lavish life of VBS boss Robert Madzonga who reportedly own two Mercedes-Benz G63 cars, an Audi R8, a Lamborghini and a helicopter, just to name a few.

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Source: Briefly.co.za

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