Numerous influential folks obtained ridiculous loans from VBS through the looting years.
These loans had been by no means repaid or the folks that acquired the loans had been by no means requested to repay them in any significant manner. It’s stated this was accomplished to affect people to help in getting funds into the financial institution or ignoring points surrounding the financial institution whereas the looting was underway.
When the entire thing imploded and eyes started to scrutinise what had occurred many of those bogus loans began being recalled in an effort to get better cash.
‘It’s claimed that the previous Venda King obtained over R18 million in unrepaid loans through the years’
It’s claimed that the previous Venda King obtained over R18 million in unrepaid loans through the years. The efforts to take the vehicles again (repossess them) have been fought by the previous King as he stated they had been gifted to him. He appeared shocked that they had been linked to any sort of mortgage or credit score in any respect.
‘The current courtroom case handled the subject of prescription and reckless credit score’
The current courtroom case handled the subject of prescription and reckless credit score however it appears that evidently the cash will nonetheless need to be repaid.
It has been a tricky time for the previous King after not too long ago shedding his case on the Constitutional Courtroom (over the Kingship & wage) and now his transport.