in ,

Former VBS CFO Philip Truter plans to plead guilty – State

Former VBS Mutual Bank chief financial officer Philip Truter, has plans to plead guilt. A ninth suspect in the matter was arrested separately late in June and is the only municipal officer to face prosecution over the scandal.

The state says it is in negotiations with former VBS Financial Officer, Phillip Truter. The state says he plans to plead guilty and serve his sentence. Truter’s case was heard in the Palm Ridge Specialised Commercial Crimes Court on Monday. He has been granted R50 000 bail.

Truter’s wife, in an affidavit, says her husband had a nervous breakdown 15-18 years ago. She says he is exhibiting the same signs now and must be admitted to the Vista Clinic in Centurion.

Truter was arrested on Friday and faces 47 charges of fraud, theft, money laundering, corruption and racketeering.

Seven of his co-accused were arrested in mid-June and have already appeared in court. He couldn’t be arrested with them as he had been under quarantine.

The group’s arrest relates to the alleged theft of more than R2 billion from VBS Mutual Bank.

A ninth suspect in the matter also appeared in court in late June. Former Merafong Municipality Acting CFO, Mattheys Wienekus, was arrested separately and is so far the only municipal official to face prosecution over the alleged theft from the bank.

Last week, the ANC National Executive Committee announced it had reinstated two party officials in Limpopo who have been implicated in the looting of the bank.

Former Vhembe Executive Mayor and ANC Deputy Chairperson Florence Radzilani and Treasurer Danny Msiza were implicated by the Reserve Bank’s Great Bank Heist report.

Municipal workers’ union, Samwu, has called on the ANC’s Integrity Commission to immediately reverse their reinstatement.

The union’s General-Secretary Koena Ramotlou says the commission’s decision will affect the ANC’s public confidence.

“They need to change their mind because this will not help to build society’s confidence in the organisation. They should reconsider their decision (to reinstate them).”

The SACP has also criticised the NEC’s decision to reinstate the two.

The DA in Limpopo says the reinstatement of Radzilani and Msiza is an indication that the party is protecting them.

Last week, ANC National Chairperson Gwede Mantashe said all party internal consultative processes had been followed before the decision was communicated to Radzilani and Msiza in the Provincial Executive Committee.

Some of the depositors who have lost their life savings in the liquidated bank have said they just want their money back.


Written by Ph

[g1_socials_user user="6" icon_size="28" icon_color="text"]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Cheetahs Midfielder Escapes Death As Car Rolls While Evading Guinea Fowl

Deadly Parvovirus Kills 45 Puppies In Police Dog Unit