Why VBS Mutual Bank looters - and all the many others - are not (yet) in jail

Cosatu marched to the office of Limpopo Premier Stan Mathabatha to put pressure on him to take action against those implicated in the VBS Mutual Bank fraud. Picture: @_cosatu /Twitter

Law enforcement has been broken…

Bernard Hotz, Head of Business Crimes and Investigations - Werksmans

A lot of us would love to see people going to jail tomorrow… Down the line, we can see some consequences for this rotten behaviour.

Bernard Hotz, Head of Business Crimes and Investigations - Werksmans

Money stolen from VBS Mutual Bank funded the EFF’s fourth birthday party wrote Scorpio investigative journalist Pauli van Wyk on Thursday.

Then there’s Prasa’s too-tall trains con and a host of other high-profile cases of fraud and looting.

What are the next steps the prosecuting authorities need to take?

The Money Show’s Bruce Whitfield interviewed Bernard Hotz, Head of Business Crimes and Investigations at Werksmans.

Listen to the interview in the audio below (and scroll down for more quotes from it).

It’s appalling but it’s also wonderful… if you take the Zondo Commission; it is huge… How does law enforcement deal with this?

Bernard Hotz, Head of Business Crimes and Investigations - Werksmans

We have to exercise a degree of patience. As long as we have confidence in the NPA… I’m feeling positive…

Bernard Hotz, Head of Business Crimes and Investigations - Werksmans

The sense of frustration; I feel it too… We cannot allow our law enforcement to be permeated by rotten people…

Bernard Hotz, Head of Business Crimes and Investigations - Werksmans

Criminals use the best lawyers to defend them. They use their ill-gotten gains…

Bernard Hotz, Head of Business Crimes and Investigations - Werksmans

People need to go to jail. People need to have their assets… confiscated!

Bernard Hotz, Head of Business Crimes and Investigations - Werksmans

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
African Bank deposits skyrocket to R1.48 billion as trust in the bank returns

African Bank deposits skyrocket to R1.48 billion as trust in the bank returns

Its MyWORLD account is the cheapest in South Africa. Bruce Whitfield interviews Basani Maluleke, CEO at African Bank.

Why Anchor Capital is buying Naspers, Sasol and Patrice Motsepe’s ARC

Why Anchor Capital is buying Naspers, Sasol and Patrice Motsepe’s ARC

The Money Show’s Bruce Whitfield asks Peter Armitage, CEO at Anchor Capital, for his stock picks of the week.

Telkom adds 4.5m subscribers in a year to challenge MTN, Vodacom and Cell C

Telkom adds 4.5m subscribers in a year to challenge MTN, Vodacom and Cell C

Despite its results, Telkom still slashed 13.4% of its permanent jobs. Bruce Whitfield interviews Telkom CEO Sipho Maseko.

How to get a nice, fat tax refund from Sars (a guide for business owners)

How to get a nice, fat tax refund from Sars (a guide for business owners)

The Money Show's Bruce Whitfield interviews Daniel Baines, author of "How to Get a Sars Refund for Small Businesses".

How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

How to get a tax refund from Sars

How to get a tax refund from Sars

The Money Show’s Bruce Whitfield interviews Daniel Baines, author of “How to get a SARS Refund”.

Popular articles
Maponya Mall delivers another nailbiting round of live Brain action

Maponya Mall delivers another nailbiting round of live Brain action

The Dis-Chem Brain of 702 never disappoints in the flesh. But your chance to witness it live is running out.

[WATCH] Genius boys creating wire car with working radio goes viral

[WATCH] Genius boys creating wire car with working radio goes viral

Khabazela shares some of the videos that went viral on Twitter and Facebook.

[WATCH] Stranger Things Season 4 trailer has social media excited

[WATCH] Stranger Things Season 4 trailer has social media excited

Khabazela shares some of the videos that went viral on Twitter and Facebook.

Dad making a template for buying toaster has social media in stitches

Dad making a template for buying toaster has social media in stitches

Khabazela shares some of the videos that went viral on Twitter and Facebook.

Timing of allegations against Mkhwebane questionable - Public Protector Office

Timing of allegations against Mkhwebane questionable - Public Protector Office

Spokesperson Oupa Segalwe says Sphelo Samuel disclosures are not made in good faith as he is facing disciplinary action.

 28 attacks in Mozambican Cabo Delgado by suspected Islamists

28 attacks in Mozambican Cabo Delgado by suspected Islamists

Institute of Security Studies senior researcher Liesl Louw-Vaudran says this insurgency has also led to 400 people being killed.

Africa needs activists, not leaders: Meet SA's AU youth council member

Africa needs activists, not leaders: Meet SA's AU youth council member

Listen to insights from Shakira Choonara - award-winning, internationally recognised youth and healthcare activist.

EFF wants 'apartheid denialist' de Klerk prosecuted and Nobel Prize withdrawn

EFF wants 'apartheid denialist' de Klerk prosecuted and Nobel Prize withdrawn

The EFF responds to FW de Klerk Foundation statement after demanding the former president's removal from Parliament during Sona.

Eskom shifts load shedding to stage 2

Eskom shifts load shedding to stage 2

Stage 2 load shedding is in force from 9 am on Sunday.

Me-time, partner time and parenting - finding the right balance

Me-time, partner time and parenting - finding the right balance

Parenting expert Nikki Bush has advice on balancing everyone's needs amid the demands of busy family lives.