VBS Former CFO Sentenced To 10 Years

News South Africa

Hlokomelo Mabogale |

 Palm Ridge Specialised Criminal Court on Wednesday sentenced former VBS chief financial officer (CFO) Philip Truter to 10 years in prison.

Truter, who is now a state witness is expected to give National Prosecuting Authority (NPA) more information about his former colleagues who pleaded not guilty in the looting of VBS. For that, 3 years of his sentence will be suspended for 5 years in condition he does not commit the same crimes within the same period.

NPA spokesperson Sipho Ngwema said “Truter, who pleaded guilty to charges of fraud, corruption, money laundering and racketeering,  has undertaken to corporate with the state’s case, which was investigated by the Hawks and guided by the NPA”.

The Great Bank Heist report conducted by Adv Terry Motau found that close to R2 billion was looted. “Truter was complicit and active during the VBS debacle and has decided to come clean”, concluded Ngwema.

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