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VBS Mutual Bank was a South African mutual bank. In 2018 it was declared insolvent and bankrupt and placed under curatorship, with South African citizens and taxpayers defrauded out of roughly R2 billion. It was formed as Venda Building Society in 1982, and became a mutual bank in 1992.
Dec 31, 2018 · The implosion of VBS Mutual Bank and the uncovering of the epic fraud that caused it has dominated headlines throughout 2018. City Press’ coverage has led the field from the beginning. Here is how the scandal unfolded in our pages:
African Reserve Bank (SARB) announced that with effect from Friday, 13 July 2018, qualifying retail depositors could have access to their deposits at any Nedbank branch, limited to a maximum guaranteed amount of R100 000 per retail depositor.
VBS Mutual Bank was placed into final liquidation in 2018 and Mr Anoosh Rooplal was appointed as liquidator. For enquiries, please contact 010 880 2231 or send your e-mail to Liquidator.VBS@sng.gt.com.
Oct 8, 2020 · Investigative journalist Dewald van Rensburg’s new book details the massive fraud that led to the collapse of VBS Mutual Bank. In a Daily Maverick webinar on Thursday, he explained how the...
Dec 21, 2018 · VBS Mutual Bank, based in Thohoyandou, Limpopo, collapsed this year after being fleeced by the very people entrusted with looking after depositors’ money. Almost R2bn was stolen by the bank’s...
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Nov 5, 2018 · The South African Reserve Bank placed VBS, a small mutual bank, under curatorship in March this year against a backdrop of a serious liquidity crisis. The initial findings of the curator...
