Pensioners and other people told their painful stories of loss after losing their savings in the bank heist
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Victims of the VBS Mutual Bank scandal who lost their life savings say it is ironic that Economic Freedom Fighters members are demanding the return of “stolen” land while failing to pay back the money they allegedly received unlawfully from the bank.The wheels of justice are grinding, albeit at a painfully slow pace.
The bank’s former chief financial officer, Phillip Truter, was the first, and was sentenced to seven years in prison in 2020 after he — like Matodzi — pleaded guilty to charges of fraud, money laundering and corruption.Truter and Matodzi are likely to be state witnesses in the NPA’s case against a further 12 accused — including former
Criminal charges may also be brought against more people implicated in the affidavit by Matodzi — including prominent members of both the ANC and the Economic Freedom Fighters — over payments they received from the looted millions. Like the criminal process, it has been painfully slow, in particular for the individual investors, pensioners and burial societies who lost everything in the orgy of looting.
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