VBS Bank branding. Picture: Moneyweb
A report in Sunday World has thrown new light on the ongoing VBS Mutual Bank scandal, with allegations that a company controlled by a personal assistant to the bankrupted bank’s former chairman, Tshifhiwa Matodzi, is facing liquidation for millions improperly paid to it in an “overdraft”.
Takalani Mmbi’s company has been identified in court papers by VBS’s liquidator for the repayment of the money.
According to the report, her business, Venmont Holdings, benefited from millions in “fictitious credits” paid into its VBS account, which the liquidators described as “false entries”.
Mmbi said she was still talking to her lawyers and had not yet seen the court papers.
VBS liquidator Anush Rooplal has alleged that a R4 million overdraft granted to Venmont in 2016 ballooned to R50 million “mysteriously”, with nearly R20 million then withdrawn from the account in cash from the start of 2016 and 2017, with the largest single withdrawal apparently being a whopping R6.5 million.
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