Was VBS turned into a Ponzi scheme?
Acting CEO of SA Savings Institute Gerald Mwandiambira says VBS Mutual bank entered a point of no return and unfortunately may not be saved. Speaking to David O'Sullivan Mwandiambira said, VBS as a Mutual Bank was doing well and mutual owners were getting good returns. The Bank then attracted huge deposits and an element of greed showed itself and turned the bank into a Ponzi scheme. https://soundcloud.com/kayafm959/certified-financial-planner-gerald-mwandiambira-talks-vbs-mutual-bank-10-july-2018 VBS Mutual […]