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The former CEO of VBS Mutual Bank says he does not know anything about the massive looting by executives under his supervision, which caused 1.5 billion rubles to be lost in the bank's coffers.
According to a report on City Press, Andile Ramavhunga filed an affidavit this week in response to a bid by the bank's conservatives to sequestrate him and the other directors of the bank.
Ramavhunga neither denies nor confirms that the fraud took place at VBS. On the contrary, he says that no one informed him and that he was not present at the meetings where the fraud was planned.
In addition, Ramavhunga said that his 15 million R bonus was completely negotiate and act as a broker for one of the bank's involved parties. However, while defending his commission fees, Ramavhunga did not explain why he was drawing a salary from Vele Investments of 300,000 Rands a month.
Ramavhunga and the rest of the senior VBS officials were examined earlier this year when it was revealed through a series of documents that executives would have helped millions of rands owned by depositors to fund VBS styles. sumptuous life.
The bank eventually collapsed under the weight of unpaid overdrafts, financial transactions, bonds and loans.
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