South Africa
#VBSMutualBank accused expected in court─── 09:53 Mon, 02 Aug 2021
The accused in the VBS Mutual Bank corruption case are expected in court on Monday.
Pre-trial proceedings are set to begin at the High Court in Pretoria. Two of the fourteen people accused are top ANC officials from Limpopo, while six were the bank's managers.
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.
