Housing schemes regulator goes from bad to worse

📆 12/22/2018 7:00 AM
📰 mailandguardian

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In August, Subz_84 reported that R80-million of taxpayers’ money that was irregularly invested with the VBS Mutual Bank by the beleaguered CSOS had been written off by the organisation, and this was at the heart of its first adverse audit finding.

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Lots of overalls but no one wearing one

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R80m VBS loss for homes ombudA forensic report into the Community Scheme Ombud Service has recommended that the entity should recover R80-million that was recklessly invested with the now-defunct VBS Mutual Bank.
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