Two accountants fail to appear at SAICA hearings into VBS, with no excuse given

The first two accountants implicated in the VBS Mutual bank scandal, Andile Ramavhunga and Tshifhiwa Matodzi, have failed to appear at the hearing by the South Africa Institute of Chartered Accountants.

Ramavhunga and Matodzi are part of nine members named in Advocate Terry Motau’s 'Great Bank Heist' report which details how R1.8 billion was brazenly stolen from the mutual bank.

They did not provide any reasons to the committee as to why they were absent.

Ahmed Kajee, EWN reporter

READ: Mahumapelo linked to illegal deposits at VBS by NW municipalities

The committee wanted to ensure that processes were followed when delivering the notices. They called the legal offices to find out if mails were sent and the personal details were correct.

Ahmed Kajee, EWN reporter

Kajee says the driver was not allowed into the Matodzi's residence by security.

ALSO READ: Execs at VBS Mutual Bank plundered it to death, it can’t be saved - report

The security said they haven't seen Matodzi since January.

Ahmed Kajee, EWN reporter

Listen to what the way forward is...


Recommended

by NEWSROOM AI
Read More
Mahumapelo linked to illegal deposits at VBS by NW municipalities

Mahumapelo linked to illegal deposits at VBS by NW municipalities

The M & G claims Mahumapelo vigourously encouraged municipalities in the province to make deposits R314 million with the bank.

Seven Limpopo municipalities lost money to VBS - Limpopo Premier

Seven Limpopo municipalities lost money to VBS - Limpopo Premier

Limpopo Premier Stan Mathabatha announced on Wednesday, the suspension of a group of municipal managers.

Many VBS depositors will be dead by the time they get (some of) their money back

Many VBS depositors will be dead by the time they get (some of) their money back

The Money Show’s Bruce Whitfield interviews Warren Thompson, Financial Journalist at Business Day.

[LISTEN] 'Every attempt should be made to rescue VBS Mutual Bank'

[LISTEN] 'Every attempt should be made to rescue VBS Mutual Bank'

Parliament’s Finance Committee says if the bank cannot be rescued, a similar model should be resuscitated.

VBS saga finally aired before Parliament’s Standing Committee

VBS saga finally aired before Parliament’s Standing Committee

The Hawks, Advocate Terry Motau and the NPA appeared before Parliament’s Standing Committee on Finance to answer questions on VBS.

Popular articles
Game of Thrones fans demand a remake of Season 8

Game of Thrones fans demand a remake of Season 8

The petition describes Benioff and Weiss as woefully incompetent writers and calls for a better ending for the show.

Gigaba, Dlamini and Mokonyane heading to Parliament despite outcry

Gigaba, Dlamini and Mokonyane heading to Parliament despite outcry

Political analyst Nompumelelo Runji says these people have support from their constituencies.

Absa is the most complained about bank in South Africa

Absa is the most complained about bank in South Africa

Capitec Bank, however, is keeping its customers decidedly happy. Bruce Whitfield interviews consumer journalist Wendy Knowler.

8 tips and tricks to cut your cost of living

8 tips and tricks to cut your cost of living

The Money Show’s Bruce Whitfield interviews Warren Ingram, a personal financial advisor at Galileo Capital.