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PIC launches forensic probe on VBS

JOHANNESBURG – The Public Investment Corporation (PIC) has launched a forensic probe into all transactions made on its investment in VBS Mutual Bank.

It says it’s concerned about reports that two of its former employees are implicated in the scandal.

The PIC has a 25 percent stake in VBS Mutual Bank.

WATCH: VBS customers get their cash

It said it hopes the investigation will reveal whether any of its officials were involved in the looting of the bank.

VBS was placed under curatorship earlier this year, amid allegations of mismanagement and fraud.

eNCA

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