VBS suspects ask for bail to be reduced

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Seven of eight VBS suspects appeared at the Palm Ridge Magistrate court on 47 counts corruption, racketeering, fraud and money laundering. Picture: Tebogo Letsie
Seven of eight VBS suspects appeared at the Palm Ridge Magistrate court on 47 counts corruption, racketeering, fraud and money laundering. Picture: Tebogo Letsie

NEWS

One of the suspects said it was not in the interest of fairness and justice for the state to put the bail amount at such a high amount; others cited financial constraints and family obligations.

The suspects, led by accused number one and alleged kingpin of the VBS heist, former VBS and Vele Investments chairperson Tshifhiwa Matodzi, are VBS chief executive Andile Ramavhunga, former chief financial officer Philip Truter, former VBS treasurer Phophi Mukhodobwane, and former non-executive VBS board members Ernest Nesane and Paul Magula, as well as former KPMG engagement partner Sipho Malaba, and Phalaphala Avhashoni Ramikosi, the former chief financial officer of the SA Police Service (SAPS).

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