VBS Mutual Bank’s CEO, and a board member and former CFO of the SA Police Service, have paid the R100,000 bail set by the court
Suspects in the looting of VBS Mutual Bank at the Palm Ridge Regional Court on June 18 2020. Picture: ALON SKUY
The bank’s CEO Andile Ramavhunga; and board member and former CFO of the SA Police Service Phalaphala Ramikosi paid and were released on bail.The Palm Ridge regional court had granted the group, which includes the bank’s top executives, bail of R100,000 each, despite some of the accused pleading poverty.
The group is facing a combined 47 counts, including for racketeering, theft, fraud, corruption and money laundering.
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