Johannesburg – Seven more accused persons were added in the VBS Mutual Bank corruption matter and appeared for the first time at the Palm Ridge Specialised Commercial Crime Court in Johannesburg on Friday 12 March 2021.
This follows their arrest by members of the Directorate for Priority Crime Investigation (DPCI) Serious Corruption Investigation, popularly known as the Hawks in a simultaneous search and seizure operation in Gauteng and Limpopo yesterday.
Mmbulaheni Robert Madzonga (53), Kabelo John Matsepe (29), Mamphe Daniel Msiza (53), Ralliom Razwinane (39), Takunda Edgar Mucheke (37), Tshianeo Madadzhe (37) and Mulumisi Solomon Maposa (49) are collectively charged with 188 counts of racketeering, corruption, fraud, theft, and money laundering.
They join the other seven accused who were arrested in June last year. Tshifhiwa Calvin Matodzi (42), Andile Malusi Attwell Ramavhunga (41), Phophi Londolani Mukhodobwane (35), Sipho Nhlanhla Kelvin Malaba (47), Thifhelimbilu Ernest Nesane (41), Paulus Nditsheni Magula (43), and Phalaphala Avhashoni Ramikosi (46) are out on R100 000 bail.
In October last year, the other accused in the matter, the former Chief Financial Officer of the VBS Bank, Phillip Truter, pleaded guilty to charges of fraud, corruption, money laundering and racketeering. He was sentenced to 10 years imprisonment, with three years suspended.
The investigation started in August 2018 as an inquiry and was converted into a formal docket in May 2019. Guided by the National Prosecuting Authority (NPA) with the assistance of the Financial Intelligence Centre (FIC), South African Revenue Service (SARS), South African Reserve Bank (SARB) and National Treasury, the investigation has various legs.
Since March 2018, there was general deficiency with regards to finances received by the bank, amounting to R2,2 billion.
The seven accused were release on bail between R50 000 and R100 000 bail and the matter was postponed to 26 March 2021 for the accused to join the rest, finalise pre-trial management issues and to get a high court date.
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