Reserve Bank heads to court to have VBS shut down

The South African Reserve Bank wants to close down VBS Mutual Bank.

The Reserve Bank applied to the North Gauteng High Court to liquidate the bank following the “Great Bank Heist” report.

It revealed that at least R1.9-billion had been looted from the bank, mostly by politicians.

VBS Mutual Bank

The DA has called on the public protector to investigate all mayors implicated in the looting.

It wants lifestyle audits to be conducted on every person mentioned in the scandal.

Source: eNCA

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