VBS case postponed, more charges and arrests anticipated

JOHANNESBURG - Seven people arrested in connection with the VBS mutual bank heist appeared at the Palm Ridge magistrate's court on Thursday.

The state requested a postponement to January 2021 in order to add further charges to the charge sheet.

READ: Former VBS CFO pleads guilty, to cooperate with state

State advocate Hein van der Merwe said the state foresees there will be more arrests before the return to court.

Van der Merwe said the seven counts of theft, corruption, money-laundering, fraud and racketeering remain for the accused.

He said the state intends on disclosing the docket to the accused before the end of the year.

The suspects included the bank's former chairperson Tshifhiwa Matodzi and CEO Andile Ramavhunga.

Matodzi is believed to be the kingpin of the scheme that robbed pensioners and cash-strapped municipalities of their money.

Earlier this year, all seven accused indicated they would plead not guilty.

READ: Msiza wins court bid to have parts of VBS report set aside

On Wednesday, the court sentenced former CFO Phillip Truter to seven years in prison.

Truter pleaded guilty to charges of fraud, corruption, money laundering and racketeering.

He has undertaken to co-operate with the state.

Former VBS Bank CFO, Philip Truter, has appeared in the Specialised Commercial Crimes Court in Palm Ridge. #eNCA Courtesy #DStv403


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