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
Mixed reaction to Constitutional Court's ruling over spanking of children

Mixed reaction to Constitutional Court's ruling over spanking of children

Freedom of Religion SA legal advisor says the ruling will destroy families in the country.

EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

Economic Freedom Fighters Mbuyiseni Ndlozi explains why it banned the Daily Maverick and amaBhungane from attending its events.

Burger King rebrands as Bacon King (but drops 'ham' from the word 'hamburger')

Burger King rebrands as Bacon King (but drops 'ham' from the word 'hamburger')

"They seem to have succumbed to consumer pressure," says branding and advertising expert Andy Rice.

It is sickening what Thabo Mbeki said, callers tell Eusebius

It is sickening what Thabo Mbeki said, callers tell Eusebius

Callers on the open line critique the former president's tribute to Robert Mugabe and say he rewrote history.

'I am proud of Ndlovu Youth Choir's performance on AGT,' says conductor

'I am proud of Ndlovu Youth Choir's performance on AGT,' says conductor

Ralf Schmitt weighs in on the incredible achievement of performing in the finals of America's Got Talent.

[WATCH] Reporter saying dead man 'was unavailable for comment,' goes viral

[WATCH] Reporter saying dead man 'was unavailable for comment,' goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Mzansi's Ndlovu Youth Choir's wows at AGT finale, voting is underway

[WATCH] Mzansi's Ndlovu Youth Choir's wows at AGT finale, voting is underway

South Africa waits with bated breath as the countdown to the winner of America's Got Talent begins.

Forensic investigator pokes holes in Watson death probe

Forensic investigator pokes holes in Watson death probe

The recent findings of a private pathologist ruled out suicide as the cause of death of the former Bosasa boss.

Panyaza Lesufi takes a swipe at private Afrikaans university under construction

Panyaza Lesufi takes a swipe at private Afrikaans university under construction

Gauteng Education MEC says there is no room in a non-racial South Africa for reminders of apartheid.