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VBS is still under curatorship for the safety of depositors. As per the South African Reserve Bank SARB press conference held on , all transactional retail depositors, which include individuals, stokvels and burial societies who currently have up to R deposited in VBS Mutual Bank, will have their funds transferred to Nedbank..VBS Mutual Bank further clarifies that it does not do any business in the Virgin Islands and it has no US Presence in any form whatsoever which clearly indicates that some individuals may be fraudulently claiming to represent VBS Mutual Bank when they are not..Days ago In a report titled, The Great Bank Heist, Advocate Terry Motau detailed the gravity of the corruption, theft and bribery that took hold at VBS Mutual Bank. In the report, Motau has recommended .JOHANNESBURG The South African Reserce Bank Sarb yesterday laid bare the rot the curator found at the embattled VBS Mutual Bank, charging that the lender manipulated its own financial information..VBS Mutual Bank is a South African mutual bank. It was formed as Venda Building Society in , and became a mutual bank in . [] By the bank reportedly had around , depositors with all deposits in the bank totalling R million.. press release. VBS Mutual Bank investigators report to the Prudential Authority. The South African Reserve Bank SARB received the forensic investigation report into the affairs of VBS Mutual . VBS Mutual Bank, one of South Africa’s smallest lenders, has been put into administration after it was unable to repay money owed to municipalities, according to the country’s central bank..As VBS Mutual Bank’s crash paralyses municipalities after it lost R.bn of their funds, details are now emerging of how Vhavenda King Toni Mphephu Ramabulana and the bank’s executives lived the high life, flying in helicopters, driving Range Rovers and Mercedes Benz Vianos, and shopping at .Reserve Bank governor Lesetja Kganyago placed Venda based VBS Mutual Bank under curatorship. This is the first curatorship in SA since the Bank put African Bank under curatorship in August .Days ago The Hawks say that a team of investigators and prosecutors are conducting an investigation into those suspected of looting billions of rands from VBS Mutual Bank..

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