Report implicating Dan Matjila in VBS Mutual Bank loan is authentic

Report implicating Dan Matjila in VBS Mutual Bank loan is authentic

The authenticity of a forensic report implicating former CEO Dan Matjila from unduly benefiting from a VBS loan has been confirmed. This comes after UDM leader Bantu Holomisa circulated a letter in which he claimed to have said report, which fingers Matjila in the matter.

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The Public Investment Corporation has confirmed the authenticity of a forensic report proving that former CEO Dan Matjila benefited from an irregular VBS Mutual Bank loan.

UDM leader Bantu Holomisa revealed a letter written to the PIC inquiry's evidence leader, claiming to be in possession of the forensic report which accuses Matjila of benefiting from a R2.45 million loan. reported earlier that VBS Mutual bank had collapsed after widespread looting saw politicians and executives pilfering R2 billion.

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Matjila, on the other hand, denies any wrongdoing, commenting on the report:

“I have never seen such a report or any documentation in connection with it but it is absolutely untrue."

Meanwhile, the timing of Holomisa's statement has been brought into question, with Matjila expected to implicate the UDM leader in his testimony before the commission, reports BusinessLIVE.

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