Mail and Guardian investigative journalist, Sabelo Skiti was on Political View — a wrap of the latest political developments.
The fallout continues after the release of the an explosive report into the collapse of VBS Mutual Bank. An advocate who penned the report, Terry Motau, details how an estimated R2 billion was looted from the bank and recommends that more than 50 people be charged. He found the municipal officials were bribed to ensure that municipalities deposited large sums into the bank. Motau finds the bank was also looted by the chairman and those close to him – and ultimately it was liquidated and could not pay depositors. The list of those implicated is long and it includes KPMG as well as the brother of EFF Deputy President, Floyd Shivambu, Brian Shivambu. Brian Shivabu has denied he received anything from the bank and Floyd Shivambu says claims that he received R10 million are false.
The PIC is also mentioned in the report and the M&G has been looking into other possible links.