Seven suspects were arrested in connection to the disappearance of over R2 billion in municipal funds, which led to the liquidation of VBS bank.
Opposition parties, including the Economic Freedom Fighters , Congress of the People and the Democratic Alliance , welcomed the arrest of former insiders of VBS Mutual Bank, who were accused of corruption and criminality relating to VBS Mutual Bank.
“We will closely monitor and developments and believe that the process underway way will be conducted in a free and fair manner so that justice prevails and that the legal principle of ‘innocent until proven guilty’ is followed both in letter and in spirit,” the EFF said in a statement. “We expect the criminal justice system to ensure that all participants in the orgy of theft and corruption in the VBS matter to be held accountable. This includes high profile politicians and their political parties which benefited from the proceeds of this crime,” he said.
“In at least one case, a chief financial officer of a municipality in the North West resigned before disciplinary action could be taken against her, only to reappear in Limpopo a few months later as a municipal manager,” said DA MP Cilliers Brink in a statement.
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