VBS Mutual Bank
The curator of VBS has described a "fraudulent scheme of epic proportions".
The director of the company which is the majority shareholder in VBS is living the high life, while depositors struggle to draw R1,000 a day.
A Helicopter, Sports Cars And A Missing R900m — Everything You Need To Know About The VBS Bank Drama
Reports allege the bank's shareholders used depositor's money, some of which belonging to municipalities, to finance their own lifestyles.
The DA says there needs to be an investigation into municipalities which deposited funds into VBS unlawfully.
Auditing firm KMPG is in the spotlight for dubious dealings. Political analyst Khaya Sithole gives us some insight into the company, and possible fallout.
The auditing firm says it has put a number of measures in place to avoid a repeat of the VBS debacle.