Eighth VBS looting suspect intends to plead guilty

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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.

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