; DA laid criminal allegations against VBS  bosses ⋆ Lephalale Express Online News
https://lephalaleexpress.co.za/2018/07/14/da-laid-criminal-allegations-vbs-bosses/
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DA laid criminal allegations against VBS  bosses

Democratic Alliance (DA) says it has on Friday laid charges of fraud, racketeering and corruption against VBS Mutual Bank officials and its majority shareholder, Vele Investments, at the Sandton Police Station in Johannesburg.

DA Shadow Minister of Cooperative Governance and Traditional Affairs, Kevin Mileham said criminal accusations takes after claims which developed that the bank’s directors and Vele Investments had duped VBS of more than R1.5 billion.

“The DA is of the view that the embroiled people breached Section 3 of the Prevention and Combating of Corrupt Activities Act and Section 2 of the Prevention of Organized Crime. VBS is a similar bank which gave Jacob Zuma a credit to pay for his Nkandla compound. Reports likewise propose that the ANC acknowledged gifts from the Bank for a gala event from a sketchy source. This implies they have utilised VBS as a front for criminal action to help the heartless ANC government,”said Mileham.

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DA said while the officials duped the bank and the ANC appears to have enjoyed this, it presently leave ordinary citizens queuing for a considerable length of time just to get their investment funds out.

Not long ago, said Mileham it was uncovered that 15 municipalities made deposits with VBS, in spite of  instructions by National Treasury against this practice, including that some embroiled municipalities are among the most noticeably bad run and most fiscally insecure in the country.

“The police currently has an obligation to investigate these charges and guarantee that it considers these people responsible.

The DA won’t enable the ANC’s corruption to ransack South Africans of productive service delivery.

We will ensure that they hold the people who are responsible to account,” added Mileham.

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