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South Africa: “First Black Bank” Collapses after Being Looted by Owners
11-09-2018, 08:15 AM #1
Team Uzi ռօ ǟʀȶɨʄɨƈɨǟʟ ֆաɛɛȶɛռɛʀֆ
Posts:1,997 Threads:84 Joined:Jul 2017
VBS Mutual Bank—lauded as the first bank in South Africa to be totally owned and managed by Africans—has collapsed after its owners stole all the cash and bribed government and local government officials into depositing money in the operation, an official inquiry set up by the South African Reserve Bank (SARB) has found.

The SARB report found that R1,894,923,674 (US$ 130 million) was transferred from the Bank to fifty three individuals between 15 March 2015 and 17 June 2018. According to the report, R16,148,569 (US$1.09 million) went to Brian Shivambu, younger brother of the anti-white Economic Freedom Fighter senior politician Floyd Shivambu.

Other cash went to local government officials in at least 15 regions as payments for switching banking facilities to the African-owned bank. Among those implicated are the African National Congress’s deputy chairman for the northern Limpopo province, Florence Radzilani, and that organization’s regional treasurer, Danny Msiza.

http://newobserveronline.com/south-afric...by-owners/
İmage

ᎳhᎬᏁ Ꭺ ᎶuᏁ ᏟuᏞᏆuᏒᎬ fᎪᎥᏞs, Ꭺ ᏒᎪᏢᎬ ᏟuᏞᏆuᏒᎬ ᏢᏒᎬᏉᎪᎥᏞs
11-09-2018, 09:54 AM #2
Octo Mother Superior
Posts:41,459 Threads:1,559 Joined:Feb 2011
Bankers...

yup.gif
11-09-2018, 04:52 PM #3
Kreeper Griobhtha
Posts:11,168 Threads:753 Joined:Feb 2011
Yup...

coffeetime.gif

What politics from both sides wants to teach us is that things are never complex. If you have your little package and something doesn't fit into that package, You don't know what to make of it so you want to dismiss it or then you will have to do the work of reconsidering your assumptions. - Michael Malice
11-09-2018, 08:37 PM #4
Octo Mother Superior
Posts:41,459 Threads:1,559 Joined:Feb 2011
Up here in the greatest north the bankers at least they go for sophisticated schemes like money laundry


Quote:The Swedish Economic Crime Authority has received a report alleging that Nordic banking giant Nordea Bank, which is now headquartered in Helsinki, accepted criminally-sourced funds from banks in Estonia and Lithuania.

The case is reportedly related to a money laundering case involving Denmark's Danske Bank, which according to the Financial Times, faces fines of up to nearly seven billion euros over a major money laundering scandal. International financial authorities are keeping a close eye on Danske Bank after the institution admitted that a large portion of nearly 200 billion euros that arrived from its branch in Estonia were "suspicious," FT reports.

According to news outlet Al Jazeera, Danske Bank acquired the Estonian branch in 2006 and oversaw suspicious transactions amounting to some 200 billion euros over a period of about nine years.

https://yle.fi/uutiset/osasto/news/norde...l/10462350
11-09-2018, 10:05 PM #5
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,516 Threads:1,484 Joined:Feb 2011
May the good lord bless the banks and their fiat currency in their further endeavors.  coffeetime.gif

wonder.gif



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