LettersOpinion

Finally, the money comes back

It has finally been announced that Stanlib will return R1.7-billion to their investors, money seized from them as a result of the collapse of African Bank.

EDITOR – It has finally been announced that Stanlib will return R1.7-billion to their investors, money seized from them as a result of the collapse of African Bank.

This amount of money taken from investors with money market accounts was to meet the bad debts created by African Bank and to re-create a ‘new’ bank.

This must be the largest heist in history, yet surprisingly it was carried out with hardly a whisper from the investors concerned.

Having achieved this exercise so easily, perhaps next time, when debtors run away owing millions, investors may not be so lucky in recovering their hard-earned savings.

C Buckley

Hillcrest

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