Joint statement by NPA and HAWKS on progress on investigation into Venda Building Society Mutual Bank
17 June 2020
Good afternoon to all of you.
Thank you for honouring our invitation to share with you the progress on the investigation into the Venda Building Society Mutual Bank (VBS). The bank was founded in 1982 as a Building Society and became a Mutual Bank in 1992.
Today members of the Directorate For Priority Crime Investigation (DPCI) conducted a simultaneous search and seizure operation in 10 premises in Gauteng and Limpopo provinces
The team also executed warrants of arrests on four suspects. Three other suspects are expected to hand themselves today. The eighth suspect has been affected by the Covid-19 quarantine requirements and will be secured after completion of the relevant processes.