"Those thieves are driving expensive cars and living in big mansions, while we are swimming in abject poverty. I don't believe they have spent all the millions as we still see them driving around happily. Sell the proceeds of crime and give us back our lifelong investments," said the former chairperson of the defunct VBS Mutual Bank, Mr Madambi Muvhulawa.
Muvhulawa was speaking at a function arranged by the Rev Tshenuwani Farisani Foundation, in conjunction with the Timson Musetsho and Ronald Manyi foundations. The event marked Farisani's 77th birthday but also served as an opportunity to hand out food parcels to people who lost their life savings when VBS was looted. It was held at the Thohoyandou Indoor Sports Centre on 31 August.
Muvhulawa spoke about the history of VBS Bank, which was established in 1982. One of its features was providing home loans to people who could not access such assistance from commercial banks.
"We approached the former Venda Bantustan government and asked for permission to open our own bank, and they agreed. There were about 400 of us when we started the bank. The government helped us with about R10 million to start VBS Bank, and they became the main shareholder," he said.
He added that what angered them most was seeing those arrested for looting the bank being paraded in courts far away in Gauteng, instead of being tried here at home where the looting occurred. "It would have been better if they were appearing nearby, so that we could attend the court proceedings. Perhaps looking them in the eye and seeing their cruel faces would help ease the pain," he said.
He emphasised that what they needed now was to see the thieves' assets confiscated and sold, so investors could get their money back.
Dr Tshenuwani Farisani expressed his joy at celebrating his birthday with downtrodden women who were dispossessed of their savings during the collapse of VBS Bank. He criticised political party leaders who benefitted from the VBS Bank looting, saying they should do the honourable thing and repay the money.