[ad_1]
Johannesburg – The State has filed an 87-page High Court offer to attack the personal property of the leaders accused of plundering VBS Mutual Bank of more than 1.5 billion rand in a proportion fraud scheme epic. Some of the executives would have lived the lives of billionaires, looting the depositors' money to buy mansions, sports cars and a helicopter.
In the judicial application, the state gave a clear indication of the recovery of each cent of the depositors. the money lost because of the "large-scale fraud" allegedly committed by the bank's executives. The biggest victims of the fraud were 21 municipalities, community members and businesses in Venda as well as the Public Investment Corporation (PIC).
In the offer of the court, seen by The Star, conservative Anoosh Rooplal brought an urgent application in the Andiro Ramavhunga, the bank's chief executive officer, was sequestered first. Rooplal said the decision to sequester Ramavhunga urgently was "due to fraud, with Vele Investments and others, perpetrated against VBS, its depositors and local municipalities."
Ramavhunga was the main target of the sequestration offer. some control over the badets of the bank as a former managing director. He also had in his possession properties and cars bought with millions allegedly stolen from the bank. The governor of the Reserve Bank, Lesetja Kganyago, who placed the VBS in curatorship when its liquidity crisis worsened, said this week that the bank's executives have stolen 75% of its badets
"A Ramavhunga sequestration process of recovering funds from VBS and / or badets in its possession," Rooplal said. "Given the pervasive nature of the fraud, the monetary amount involved and Ramavhunga's continued use of ill-gotten gains, it is necessary that the Ramavhunga estate be sequestrated and placed in the hands of one. administrator "
Rooplal made it clear in his affidavit that Ramavhunga was not the only leader of the collapsed bank targeted for sequestration. The trusteeship also had the intention of holding badets in the possession of VBS's largest shareholder, Vele Investments, a company that was receiving most of the siphoned money
"A Vele liquidation application will be simultaneously presented to the provisional applications for the sequestration of its controllers: Tshifhiwa Matodzi, Robert Madzonga and Ramavhunga
"More simultaneous applications for sequestration will be filed against Phillipus Nicholas Truter and Phopi Londolani Mukhodobwane."
Rooplal not included. did not turn around the bush in his affidavit that these five were the brains behind the plot to steal the money that was deposited in VBS. He stated that the findings of his own investigation had been "strengthened" by an investigation conducted by Terry Motau SC, aided by Werksmans Attorneys. "19659002" More outrageous than the perpetration of a fraudulent scheme of such enormity is that the fraudulent scheme was orchestrated by the highest officials of VBS. The fraudulent scheme was designed and executed by Matodzi, Ramavhunga, Truter, Mukhodobwane and Madzonga ", said Rooplal.
He added that executives had directed their" fraudulent scheme of epic proportion "for more than one year. and used the loot to live with the depositors 'money, and they paid themselves heavy premiums, while some of the stolen depositors' funds were supposed to be used to bribe officials of public entities. VBS was looking to put in his lap
"They used them to finance their lifestyle, buy real estate, buy Rooplal said.
"Victims of the fraudulent scheme even expand into a burial society."
Reports revealed that R12million bank vaults were injected on a helicopter for Venda King Toni Ramabulana. The application of Rooplal sequestration does not target Ramabulana. Although a VBS shareholder, the king was not an executive. Sequestration orders against the five officers would see them handing over their property and financial affairs to a trustee
. Their bank accounts would be frozen and their property seized. Madzonga, the managing director of Vele Investments, was on the verge of losing a host of luxury cars, which his wife Khosi has published some on social networks. In addition to the helicopter, Madzonga also owned two G63 Mercedes-Benz cars, a Rolls-Royce and an Audi R8.
Matodzi bought a Ferrari R6.5m with money in possession of VBS. Ramavhunga declined to comment on the offer of forcible confinement.
The Star
Receive the best IOL stories via Whatsapp by sending your name to 0745573535
[ad_2]
Source link
