VBS Bank's ex-finance boss Phillip Truter pleads guilty

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Former VBS Mutual Bank CFO Phillip Truter on Wednesday pleaded guilty to six counts related to looting of funds at the bank.

Truter was the eighth suspect who appeared in the Johannesburg Specialised Commercial Crimes Court, sitting at the Palm Ridge magistrate's court, in connection with looting of the bank.

When he made his first appearance in July, Truter indicated he intended pleading guilty to the charges he was facing. He faces two counts of fraud, and a count each of money laundering, corruption, racketeering and failure to submit a tax return. The prosecution on Wednesday first requested a separation of trials in respect of Truter, and the court granted the application.

Truter reached a plea and sentence agreement with the state, whereby he pleaded guilty to all six counts.

 

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MphahleleSilas it's raining mokone

He Should Tell Us More About Other Actors In The Looting!

DrShakes_SD SA is busy,they cleaning!!!

Reduced sentence to turn state witness *Grabs popcorn in anticipation*

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