Investigative journalism unit amaBhungane says eight people were arrested early on Wednesday in a co-ordinated search-and-seizure operation
VBS Mutual bank customers at long queues outside the bank, demanding their money in Thohoyandou, Limpopo. Picture: ANTONIO MUCHAVE/SOWETAN
Investigative journalism unit amaBhungane reported that the eight were arrested on Wednesday morning in a co-ordinated multiprovince search-and-seizure operation by the Hawks and the NPA. In March 2018, the SA Reserve Bank placed VBS Mutual Bank into curatorship after withdrawals by municipalities— which are legally barred from depositing money with mutual banks — caused a cash crunch.
The report recommended that those implicated face criminal charges, but up until now no arrests have been made.maBhungane reported that those arrested on Wednesday included the
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