The National Prosecuting Authority says Phillip Truter requested and was granted bail of R50 000.

NPA spokesperson, Sipho Ngwema, says he had to surrender his passport.

He says Truter had approached the State and indicated that he intended to plead guilty to the charges against him.

Truter will be back in court again on 8 October when he will be joined by his seven co-accused, Tshifhiwa Calvin Matodzi (42), chairman of VBS board of directors; Andile Malusi Attwell Ramavhunga (41), VBS CEO; Phophi Londolani Mukhodobwane (35), head of treasury and capital management; Sipho Nhlanhla Kelvin Malaba (47), VBS audit engagement partner; Thifhelimbilu Ernest Nesane (41), former executive legal head at Public Investment Corporation (PIC); Paulus Nnditsheni Magula (43), former executive head of risk management at PIC and former lieutenant-general Phalaphala Avhashoni Ramikosi (46), chairman of the audit committee.

Truter could not appear in court earlier as he was under Covid-19 quarantine.

Algoa FM