Calls for VBS Mutual Bank looters to return the money

The VBS Mutual Bank Shareholders Forum has called for the bank’s resuscitation and demanded that those who wrongly received the money pay it back. The forum held a media briefing in Thohoyandou, Limpopo on Tuesday to map the way forward.

The looting of the bank led to its collapse in 2018, leaving many individual depositors devastated.

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“We humbly request that perpetrators should be brought to book to follow Phillip Truter and Mr Tshifhiwa Matodzi,” said the Forum secretary Robert Livhoyi. 

 “All those who wrongly received the money from VBS should pay it back. Liquidators should also continue to collect money from those who borrowed it and sell off assets to be applied to recover the money.

“The money received will be used to pay creditors and what is left will be for the shareholders. The remaining amount will be for bank resuscitation,” he said.  

VBS MUTUAL BANK SHAREHOLDERS FORUM WANT THE BANK TO BE RESUSCITATED 

Livhoyi says they are hopeful, based on outcomes of consultative meetings with stakeholders, that the bank may still be revived.

“Indeed our hope has also been revived in a way. In that, the 7th parliament and administration will also find a resolution. Having in mind that VBS was placed in curatorship and Liquidation during the fifth administration.”

More to follow..