VBS accused expected in court


File: Venda-based VBS Mutual Bank shot to prominence in 2016 when it lent former president Jacob Zuma R7.8-million.

JOHANNESBURG - 14 people accused of VBS mutual bank corruption are expected in court on Monday.

Pre-trial proceedings are set to begin at the High Court in Pretoria.

Two of the accused are top ANC officials from Limpopo, while six were the bank's managers.

READ: VBS Bank Heist | Three more suspects expected in court

They all face 188 counts of theft, fraud and racketeering among other charges.

The bank’s former CFO, Phillip Truter, pleaded guilty to the charges last year.

He was sentenced to an effective seven years in prison.

Over R2-billion was siphoned out of the bank.


Paid Content