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Theft robbery

Heads Have Started Rolling In The VBS Heist Case

Heads have started rolling following the 'Great Bank Heist' that happened to a mutual bank called VBS back in 2017.


Hawks head Godfrey Lebeya confirmed that 8 suspects have been fingered on 47 counts - 5 counts racketeering, 12 theft, 15 corruption & 7 money laundering & fraud. 4 already under arrest, 3 due to turn themselves in and 1 is in Covid quarantine and will be expected to be dealt with once he is in the clear of Covid-19.


Former VBS chairman Tshifhiwa Matodzi, who was described as the 'kingpin' of the VBS looting scheme that resulted in more than R2 billion being stolen from the bank's coffers.


According to Lebeya, the scam was hatched on the 4 July 2017 when the board of directors for VBS approved financial statements for the year ending 31 March 2017 making VBS to look richer while it was in fact insolvent. The financial statements were shockingly inflated. 


National Prosecuting Authority head Shamila Batohi says VBS arrests are an important milestone - but stresses that "a lot of work lies ahead". She says justice must be done for the victims of VBS looting, particularly elderly people who lost their life savings. 


The arrested suspects will appear in the Palm Ridge Regional court on Thursday 18 June 2020.

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Covid Godfrey Lebeya Hawks Lebeya Shamila Batohi

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