November 9, 2018
Better to live one day as a pimp than a lifetime as a pauper, amirite?
I’m surprised Blacks in Africa even use banks at all. I thought they didn’t believe or understand such a concept as letting other people hold their money for them.
I thought Blacks all kept their money under the mattress.
Shieeet, I ain’t lettin’ no nigga I don even kno touch my paper, dawg.
But apparently, some Blacks actually engaged in cargo cult banking on a large scale. As in all childish Black imitations of White society, however, they missed the key part of banking – you’re actually supposed to give the money back to your customers at some point.
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.
According to the official report issued by the SARB, titled “The Great Bank Heist: Investigator’s Report to the Prudential Society,” the African owners at the VBS Mutual Bank “made away with almost R2 billion” in what it described as “a single criminal enterprise.”
Apparently you need a whole report to say “dem niggas dun stole’d da whole thang.”
What’s the point of this report? I already knew exactly everything that happened the minute I heard “Bank owned and managed by Africans.”
VBS Mutual Bank became a mutual bank in 1992, and was listed on the South African Stock Exchange in 2017. It ran into what media called “liquidity problems” early in 2018, and was placed under curatorship in March this year.
“Liquidity problems,” i.e. they spent all the deposit money buying luxury cars and mansions.
Plus, rims aren’t cheap, you know – especially when they’re this trippin’.
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.
A report in South Africa’s News24 service said that the report “has recommended that more than 50 individuals be criminally charged and held liable in civil proceedings, following the bank’s implosion earlier this year.
I love African news. They somehow always make everything look so goofy.
“This includes the bank’s former executives and their associates, shareholder executives, politicians and their relatives and auditors who signed off on the bank’s fraudulent financials.
“The criminal charges should stem from evidence of fraud, corruption and bribery perpetrated by the bank’s leadership and public officials with whom they were in cahoots.”
Who thought it was a good idea to let a bunch of Blacks control millions of dollars of other people’s money? They’re like children – once they have their hands on something, they won’t want to give it back.
Their societies never evolved beyond the primitive laws of the jungle, where the one who holds something “owns” it – until someone else can take it away. Things like legal ownership would have been foreign concepts to African tribesmen, and is still something Black people have a very tenuous understanding of.
Deez r my limes, muffuguh. Cuz I be holdin’ em.
There is absolutely no hope that Africans will ever be able to maintain even the most basic institutions necessary for a modern society unless White people are there to do everything for them. And with South Africa apparently doing everything they can to get rid of the remaining Whites, their total collapse is probably imminent.