At least R730-million out of billions of rands looted from the defunct VBS Mutula Bank has been recovered, according to the Prudential Authority's last report.

Law enforcement agencies will have a difficult time in their attempts to follow the money that was looted from VBS Mutual Bank, according to investigative journalist Dewald van Rensburg.

The report claims that Manyatshe was paid R11.2m from the loot. He, however, rubbished the allegations, and slammed the report as an attempt to see VBS fail.