South Africa: Update - Former Vbs Mutual Bank Executive Appears in Court

press release

Pretoria — The eighth suspect, Phillip Truter accused in the VBS Mutual Bank investigation appeared in the Palm Ridge Specialised Commercial Crimes court this morning to face 47 charges of fraud, theft, money laundering, corruption and racketeering . Truter who is the former Chief Financial Officer of VBS was in no position to be arrested initially as he was under quarantine. Truter was arrested on Friday by the Serious Corruption Investigation team.

He was granted R50 000-00 bail and case was postponed to 08 October 2020 when he will appearing with the rest of the accused.

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