AmaBhungane’s Dewald van Rensburg spoke to EWN’s Bruce Whitfield, about the VBS Mutual Bank saga that took a twist in court this week.
The National Prosecuting Authority reached a plea agreement with disgraced former VBS chief financial officer Philip Truter.
In return for giving evidence for the state against his co-accused in the R2-billion alleged fraud case, Truter received a lighter prison sentence — ten years, of which three will be suspended for five tears. He will also be held in a single cell “for safety reasons”.
Listen to the full interview here.
Truter’s co-accused include former VBS chairman and “mastermind” Tshifhiwa Matodzi, chief executive Andile Ramavhunga and treasurer Phophi Mukhodobwane.
Alongside them will be the Public Investment Corporation’s two former representatives to the VBS board, Paul Magula and Ernest Nesane. The last accused is Phalaphala Avhashoni Ramikosi, the former chief financial officer of the South African Police Service and also a former board member of VBS.
They face a collective 47 charges.
