made a number of findings, including that the bulk of funds stolen were for the benefit of individuals andIn October last year, the other accused in the matter, the former chief financial officer of VBS Mutual 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.
Speaking after the postponement, National Prosecuting Authority spokesperson Mthunzi Mhaga said it had hoped that by Tuesday there would be the setting of the trial date which would be for two terms. “Unfortunately the issue of financial instructions and the request for further particulars and possible separation of trial are stalling the process,” Mhaga said.
“We are hoping that by the end of December, as counsel has indicated, all those issues will have been resolved and by January 24 2022 a trial date will be set.”
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