The ANC has welcomed the “alarming” forensic report by the South African Reserve Bank (Sarb) on the failure of VBS Mutual Bank.
“The report points towards grave abuse of authority and office as well as worrying instances of corruption‚” ANC spokesperson Pule Mabe said.
“The ‘Great Bank Heist’ report is alarming and highlights the roles of a range of individuals and institutions in these heinous events.”
The report‚ titled “The Great Bank Heist”‚ was published on Wednesday. The forensic report‚ compiled by advocate Terry Motau and Werksmans Attorneys‚ goes into detail about how the bank heist occurred and lists a number of former executives of VBS and its largest shareholder‚ Vele Investments‚ who were the alleged perpetrators and beneficiaries of the crime.