VhaVenda King offers to pay back R17m he received from VBS bank

VhaVenda King offers to pay back R17m he received from VBS bank

- VhaVenda King Toni Ramabulana says he will return the money he received from VBS if investigators prove the money was given to him illegally

- Ramabulana reportedly received around R17 million in payments from the bank

- The report into the scandal revealed that Ramabulana and 52 others looted the bank to the tune of R1.89 billion

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VhaVenda King Toni Ramabulana spoke about his role in the VBS Mutual Bank scandal earlier on Monday. The king said he would return any and all of the money he received from VBS if investigators can prove the money was given to him illegally.

Ramabulana reportedly received payments totalling approximately R17million from the bank. The king along with 52 other individuals were identified as benefitting from a vast looting scheme totalling R1.89 billion.

READ ALSO: Lifestyle of the rich and famous: VBS recipients' flashy lifestyes exposed

The report entitled ‘The Great Bank Heist’ was penned by Advocate Terry Motau. The South African Reserve Bank and National Treasury commissioned the investigation which was also led by Motau and a crack team of forensic financial investigators.

Briefly.co.za gathered that Motau identified 53 individuals as illegally benefiting from what could be the biggest banking scandal in South Africa’s history. Motau has recommended criminal charges should be brought against all those named in his report.

Eyewitness News reported that Ramabulana said via his statement that the report had not expressly linked him to any criminal activity.

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Ramabulana slammed the report as not treating him fairly or giving him the chance to give his own account of events.

Ramabulana pointed out that as king he received donations and payments from various sources. The king said he did not have the time to check on the source of gifts or donations. Ramabulana denied any knowledge of looting or how the VBS money came to be donated to him as is claimed in the report.

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Source: Briefly.co.za

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