8th VBS suspect appears before court, intends on pleading guilty

8th VBS suspect appears before court, intends on pleading guilty

- The eighth suspect in the VBS Mutual Bank case has appeared before the Palm Ridge Magistrate's Court

- Phillip Truter is one of the eight suspects accused of fraud, racketeering and theft in the VBS case.

- The state has been informed that Truter intends on pleading guilty on all charges.

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The eighth suspect in the VBS Mutual Bank fraud case, Phillip Truter, appeared in the Commercial Crimes Court on Monday, with the State indicating he intends pleading guilty to all the charges.

On 17 June, eight suspects were fingered in the VBS loot saga and on 22 June, seven suspects appeared in the Palm Ridge Magistrates’ Court.

The eight suspect could not appear because he had reportedly contracted the Covid-19 virus and was isolation.

Eighth suspect in VBS Mutual Bank case former VBS Chief Financial Officer Philip Truter

Eighth suspect in VBS Mutual Bank case former VBS Chief Financial Officer Philip Truter
Source: Twitter

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Truter, the former VBS chief financial officer, was granted bail of R50 000. The Commercial Crimes Court was sitting in the Palm Ridge Magistrate's Court, said News24.

Lawyer WJ Hattingh read Truter’s affidavit in which he said that he was sorry for the hardship that VBS Mutual Bank had caused its depositors and he took responsibility for his actions.

Briefly.co.za reported that the Hawks would be making more arrests in the VBS case, including municipal officials, mayors and businesspeople.

Truter faces charges including racketeering, theft, fraud and corruption, said the Sunday Independent.

NPA national spokesperson Sipho Ngwema said:

"The accused asked for R50 000 bail and the State didn’t oppose. He (Truter) has to hand over his passport and is prohibited from travelling outside South Africa. The matter was postponed to October 8, 2020. He will join the other seven suspects."

The seven other suspects are Tshifhiwa Matodzi, Andile Ramavhunga, Phophi Mukhodobwane, Sipho Malaba, Thifhelimbilu Nesane, Paulus Magula and Phalaphala Ramikosi.

Truter was also expected to be admitted into Vista Clinic on Monday afternoon pending his Covid-19 test results as his psychological condition had deteriorated over the past few weeks, the court heard.

South Africans monitoring the case are already hoping Truter will 'sing' like Former Bosasa executive Angelo Agrizzi.

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Source: Briefly.co.za

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