South Africa’s justice minister denies corruption allegations against her in a mutual bank scandal

Associated Press

JOHANNESBURG (AP) — South Africa’s justice minister has denied corruption allegations against her related to a mutual bank scandal in which thousands of retirees lost their life savings. VBS Mutual Bank was declared insolvent and bankrupt in 2018 after it emerged that more than 2 billion rand or $112 million had been stolen from the bank. Investigations showed that money held by the bank was used to purchase luxury houses, vehicles and businesses among other things. Justice Mnister Thembi Simelane was appointed to her position in June. She is alleged to have received a “loan” to purchase a coffee shop from a company implicated in the scandal. The minister denied the allegations during a parliamentary session on Friday.