Nearly R2bn was siphoned off former VBS Mutual Bank in less than five years
Former Vhavenda king Toni Mphephu Ramabulana will have to repay the defunct VBS Mutual Bank nearly R6m after he lost a bid to appeal against a South Gauteng High Court ruling in November.
Ramabulana was first drawn into the VBS Mutual Bank saga in 2018 when advocate Terry Motau said in a damning report that he was a beneficiary in the failure of VBS Mutual Bank...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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