Eighth VBS looting suspect intends to plead guilty

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Former VBS Phillip Truter appeared at the Palm Ridge Magistrates Court for the the VBS matter. Picture:  Christopher Moagi
Former VBS Phillip Truter appeared at the Palm Ridge Magistrates Court for the the VBS matter. Picture: Christopher Moagi

The eighth suspect in the VBS looting case – former VBS chief financial officer, Phillip Truter – has said he will be pleading guilty.

Truter has been implicated in looting the VBS Mutual Bank. He faces 47 charges of fraud, theft, money laundering, corruption and racketeering and has, according to the state, indicated that he intends on pleading guilty to all counts.

He appeared in the Commercial Crimes Court on Monday, and was granted R50 000 bail – significantly less than his seven co-accused, who were granted R100 000 bail each last month.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in

E-Editions

Read the digital editions of City Press here.
Read now
Voting Booth
ANC secretary-general Ace Magashule has written a letter suspending party president Cyril Ramaphosa in apparent retaliation after he was served with a letter of suspension on Wednesday.
Please select an option Oops! Something went wrong, please try again later.
Results
He doesn't have the power
39% - 77 votes
It’s a declaration of war
20% - 39 votes
Nothing but a distraction
42% - 83 votes
Vote