South Africa Set To Prosecute Matodzi, 7 Others For Biggest Bank Robbery
June 18, 2020
7:27 am
South African authorities would dock today eight people suspected of illegally siphoning 2.3 billion rand ($133.87 million) from small lender VBS Mutual Bank.
The bank collapsed in 2018 because of the corruption scandal.
According to an online medium, amabhungane.org, the eight suspects were arrested in a coordinated multi-province search and seizure operation by the Hawks and the National Prosecuting Authority (NPA)
Those arrested include the bankβs former chairperson, Tshifhiwa Matodzi, chief executive, Andile Ramavhunga, treasurer, Phophi Mukhodobwane, and chief financial officer, Philip Truter.
Heavily compromised outsiders were also arrested.
VBS Mutual Board
