Case against 7 suspects in VBS collapse postponed to January

The accused made a brief appearance in the Palm Ridge Magistrates Court on Thursday.

Seven suspects arrested in connection with the multibillion-rand VBS heist appeared in the Palm Ridge Magistrates Court on 8 October 2020. Picture: Xanderleigh Dookey/EWN.

JOHANNESBURG – The case involving seven suspects arrested in connection with the collapse of VBS Mutual Bank on Thursday was postponed to January next year.

The accused made a brief appearance in the Palm Ridge Magistrates Court.

They face 47 charges of theft, fraud, money laundering, and racketeering.

The State asked for the matter to be pushed back so that more charges could be added and for more arrests to be made.

“We are hoping that between now and January those things would have taken place and would be able to share the new indictment with the accused. The investigation continues and all those developments would have to be hopefully finalised by 21 January,” said NPA spokesperson Sipho Ngwema.

On Wednesday, the bank’s former CFO Phillip Truter was sentenced to an effective seven years in jail after pleading guilty to all charges against him.

WATCH: 7 suspects involved in ‘VBS bank heist’ appear in court



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