Venda king says he will pay back R17m he received from VBS Bank

Venda king says he will pay back R17m he received from VBS Bank

- Vhavenda King Toni Mphephu Ramabulana has said he will pay back the funds he received from VBS Banl

- This comes as Ramabulana's kingship looks increasingly precarious

- The Supreme Court of Appeal ruled that Jacob Zuma's recognition of Ramabulana as king was invalid

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Vhavenda King Toni Mphephu Ramabulana says he will pay back R17 million he received from VBS Bank.

Ramabulana has been accused of unlawfully benefitting from the Bank.

Additionally, Ramabulana faces a legal challenge to his kingship from his niece, Princess Masindi Mphephu.

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According to Ramabulana's spokesperson, the king has written to the Reserve Bank to ask how best to pay back the money. When the king receives a response, the spokesperson said, he would return the funds.

Ramabulana reportedly wrongfully received R17 million from VBS Bank. The Bank lost more than R2 billion in a fraud scandal which resulted in its collapse and caused many citizens who had invested in the bank to lose their money. 

However, the VBS Bank saga is not Ramabulana's only legal worry. His kingship is also precarious, following a Supreme Court of Appeal ruling that former president Jacob Zuma's recognition of Ramabulana as king was invalid.

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The court found Zuma's decision to be unconstitutional, according to The Citizen. The decision to appoint Ramabulana was taken without the consideration of the Limpopo premier, for example. 

Now, the Limpopo High Court will hear further testimony regarding who should succeed Ramabulana.

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As a result, Ramabulana's spokesperson said the king was consulting with his lawyers regarding the SCA judgement, Briefly.co.za has learned.

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Source: Briefly.co.za

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